The world economy is forecast to witness sluggish growth in 2019, due to both the business cycle and a rise in uncertainty that poses big challenges for both the Government and businesses. Recent changes in the global economic outlook and global oil prices have reflected such risks. The International Monetary Fund cut its global growth forecast for the first time in more than two years in the October 2018 edition of the World Economic Outlook (WEO), blaming escalating trade tensions around the world and stresses in emerging markets. The IMF said global economic growth was projected at 3.7 per cent for 2018-19, 0.2 percentage points lower for both years than forecast in April. It was the first downgrade since July 2016. The Fund also slashed its expectations for global trade with total goods and services flow expected to grow by 4.2 per cent this year and 4 per cent next year – down 0.6 and 0.5 percentage points, respectively, from the previous estimate. The two economies which … [Read more...] about Understanding uncertainty key to resilience
Viet Nam News By Paul Kennedy I’ve an old mate back in England, goes by the name of Russell Beale. Nice lad, smart, good laugh and about to become a father for the first time. He lives in a small town called Stroud in the South West of England but reading his Facebook page this past week or so and you would be forgiven for thinking he’s from another planet. Russell genuinely believes England will win the World Cup. His profile picture is decked out with patriotic colours and his posts and updates read like a motivational speaker employed to lift the entire nation. Before the Panama game, Russell predicted England would win 10-0. He wasn’t far off. I laughed at first at this ridiculous idea that my home nation actually stands a hope in Hell, but after giving it a little more thought I started to come around to his way of thinking. England’s squad for the World Cup is a young team of solid individuals who have … [Read more...] about Can England really win the World Cup?
WIESBADEN — Germany’s Social Democrats on Sunday elected Andrea Nahles, a combative and outspoken former labour minister, as the first woman leader of the 155-year-old party, albeit with a lacklustre vote result. Known for her lectern-thumping speeches and occasional outbursts of child-like humour, the 47-year-old single mother joins Chancellor Angela Merkel at the top of German politics -- and as the woman who may one day seek her job. "We’re breaking though the glass ceiling in the SPD," said Nahles at the delegates’ meeting in the city of Wiesbaden. "And the ceiling will stay open." Well-connected within her party, Nahles, a former leader of its Jusos youth wing, won 66 per cent of the vote, beating Simone Lange, 41, an ex-policewoman and mayor of the city of Flensburg. The less than stellar result against an outsider reflected lingering resentment within the party against the decision, strongly promoted by Nahles, to once more govern as junior partners … [Read more...] about German Social Democrats elect Andrea Nahles as first female leader