Abstract
In the first half of 2017, the global economy continued its good running posture since the second half of 2016. The US economy maintained fast growth after raising interest rates twice. The Euro area economy continued to recover and showed the best performance in the past ten years. Besides, the continued economic growth trend in Japan and emerging markets has been basically confirmed. The global economy has synchronized to a good trend for the first time since the outbreak of the international financial crisis. However, due to increasing protectionism in the world, the negative effects of the DPRK nuclear crisis on East Asia and the global economy, the frequent terrorism attacks occurring in Europe, much uncertainty of U.S. economic growth, and so on, the steady growth of the global economy still faces many severe challenges.
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Notes
- 1.
The uncertainty of U.S. economic growth is reflected in: a. As in the early days of Medicare reform, the Trump government’s tax reform and infrastructure plans are likely to fail through congressional approval, with the fetus dead; b. The Fed’s moves to raise interest rates and shrink balance sheets have tended to be routine, with a shift in the global monetary policy environment that has persisted over the past few years.
- 2.
The U.S. economy saw a quick rebound in the second quarter. The QoQ annualized GDP grew to 2.6 from 1.2% in the first quarter. The Department of Commerce increased the second-quarter GDP growth rate to 3.0%.
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Center for Macroeconomic Research of Xiamen University. (2018). Quarterly Forecast for 2017–18. In: China‘s Macroeconomic Outlook. Current Chinese Economic Report Series. Springer, Singapore. https://doi.org/10.1007/978-981-10-8096-8_2
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DOI: https://doi.org/10.1007/978-981-10-8096-8_2
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