Three years of UBS Evidence Lab surveys reveal that Chinese parents across...
2020-02-14 36 ENGLISH REPORTS
Without decisive policy action on multiple fronts, a significant and prolonged down turn in global economic activity is a distinct possibility. Amid concerns over the unintended effects of overstretched monetary policies, there are growing calls for a more balanced policy mix—one that includes a more active role for fiscal policies in supporting growth.
Policymakers also need to remain focused on advancing structural reforms that strengthen economic resilience and boost long-term development prospects. Key priorities include climate change adaption strategies, policies to accelerate the energy transition, reforms of labour markets and pension systems, investments in infrastructure and education, and measures to promote economic diversification.
In 2019, the world economy expanded at its slowest pace since the global financial crisis. The downturn in economic activity has been highly synchronized, with growth trending down in virtually all major economies (see table I.1). Annual growth decelerated in all geographic regions except Africa. About two thirds of the world’s countries are estimated to have seen lower growth in gross domestic product (GDP) in 2019 than in 2018. While trade negotiations are ongoing, a high degree of uncertainty remains, contributing to a global economic environment that is likely to remain challenging over the outlook period.
标签： ENGLISH REPORTS