Wednesday, December 30, 2015

IMF Chief Pours Cold Water On Optimistic Yellen, Says Growth "Will Be Disappointing"

"Over the past six or so months, the OECD, the WTO, and the ADB have all come out with rather grim assessments of global growth and trade. 
Back in September for instance, the WTO warned that the rate of growth in global trade is set to trail the expansion of the worldwide economy for the third year running. As WSJ noted at the time,“before the recent slump, the last time trade growth underperformed the rate of an economic expansion was 1985.”
“We have seen this burst of globalization, and now we’re at a point of consolidation, maybe retrenchment,” WTO chief economist Robert Koopman said. “It’s almost like the timing belt on the global growth engine is a bit off or the cylinders are not firing as they should.”


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