The IMF is upgrading its economic outlook this year for China, India and Europe. It reduced its expectations for United States and Japan.
IMF Warns of Mounting Debt, High Inflation in the West
China and India now account for nearly half of the world’s economic growth, the International Monetary Fund (IMF) reported on Tuesday. While Asia’s emerging markets are the “main engine for the global economy,” according to the IMF’s latest World Economic Outlook, U.S. political tensions and Western-imposed tariffs are spurring mounting debt concerns and worrisome inflation.
The United States is forecasted to grow more slowly than previously predicted, largely due to high inflation rates weakening consumer spending.
foreignpolicy.com/2024/07/16/imf-economics-china-us-inflation-debt-attal-resigns-france/
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