Slow economic growth? ‘Who cares?’

26 Aug 2017   Economy

The persistent belief that global economic growth is “dangerously slow” and fragile is just a myth, DBS said in a note on Thursday. “If you’re worried about slow growth today, get used to it. It’s probably going to be slower five years from now and slower yet five years after that,” David Carbon, chief economist at DBS, said in the note. Chris McGrath | Getty Images In the July update of its World Economic Outlook, the International Monetary Fund forecast global economic growth of 3.5 percent for 2017 and 3.6 percent for 2018, unchanged from its April outlook. The IMF report urged countries to pursue structural reforms, such as commodity exporters diversifying their economies, amid concerns about “shocks” upsetting the apple cart. But Carbon said economic growth wasn’t in the danger zone when it’s “looked at the way it should be: in per-capita terms,” with slower gross domestic product […]

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