StraightTalk® Special Issue for All Members: Global Economic Outlook 2014
Bart van Ark, Ph.D.
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More than five years after the Great Recession, the notion that one day the global economy will recover to the pre-crisis growth path requires a leap of faith. Mature and emerging economies around the world are dramatically restructuring to adjust to a slower growth environment of about 3 percent global growth on average per year over the next five years. However, the opportunities for renewed growth are now more visible than ever, especially in terms of the emerging middle class and, globally, better use of technology. These opportunities will only materialize if business and governments invest more heavily in the future of their economies, and policy frameworks become more conducive to allowing capital and jobs to flow to those parts of the economy where they create faster productivity growth.