September 02, 2021 | Report
The global economy continues to be buffeted by multiple shocks, and business should prepare for continued volatility in the years ahead. Global recession fears have resurfaced, with likely recessions in the US and Europe and a severe slowdown in China. At the same time, it is important to not lose sight of the longer trend. Beyond 2023, the global economy will likely return to its slowing trend growth rate compared to the prepandemic period. Emerging economies are expected to drive global growth even more than before, while the contributions from mature economies, especially Japan and Europe, are poised to be less significant.
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