According to the report, the data show that the global economic growth is accelerating on a broader basis, and the emerging economies in Europe, China, Japan and Asia have all experienced cyclical growth, which has not been seen since 20 10. This synchronous recovery is really rare. All countries in the world should seize the opportunity and adopt drastic policies to support growth and improve their ability to resist shocks.
Nevertheless, there are still many obstacles and the recovery is still incomplete. In many countries, inflation and wage growth are still at a low level. In other countries, especially commodity exporting countries and countries plagued by civil strife or political instability, they still face more complex challenges. In addition, due to the long-term trend of productivity and population growth, the medium-term prospects of developed economies are still weak.
Although different countries should adopt different policies, they have enough room for structural reforms to improve their economic resistance and potential output. On the financial side, those countries that basically restore full employment should consider gradually implementing fiscal consolidation to reduce the expanding public debt and accumulate a buffer to cope with the next recession.
I hope that all countries will work together to maintain the momentum of global economic recovery!