IMF publishes World Economic Outlook twice a year. The latest one was out in October. You need to read only the executive summary and the first table to get the idea.
It predicts that the US will have 2.7% growth this year and 2.3% next. Correspondingly, China will have 10.5% and 9.6%, India’s 9.7% and 8.4%. The good news is that we will be growing; the bad news is no where near the pace that we wish.
What should these countries do? In plain English, IMF recommended that:
- The US should cut deficit, stabilize banks, and export more.
- China should export less, consume more, and allow currency flexibility.
Sigh… Guess this means one more year of the same.