A global economy without a cushion

Stephen Roach | Yale University | 03 February 2020

With the benefit of full-year data, only now are we becoming aware of the danger the global economy narrowly avoided in 2019. According to the International Monetary Fund's (IMF) latest estimates published in January, world Gross Domestic Product (GDP) grew by just 2.9% in 2019, the weakest performance since the outright contraction in the depths of the Global Financial Crisis in 2009 and far short of the 3.8% pace of post-crisis recovery over t...