Why so gloomy on the global economy?

摘要

It is fashionable for people speaking about the global economy to be worried. I am concerned - but the truth is that the current global situation is reasonably good. The industrialised economies provide the foundation for global growth. The US economy will probably grow at around 4% this year. The Japanese economy, while it had a bad second quarter, is coming out of its decade-long recession. Even the European economies are growing a litde faster than had been expected at the beginning of the year. The picture is better than that in the developing world. China is having trouble getting growth to come down to 8%. Other Asian economies are growing rapidly, some a little less rapidly than expected, but most of them are doing just fine, including India and Russia.