The state of the world economy

image of The state of the world economy

The world economy remains listless. World output has been growing well below potential since 1990. For the third year in succession, in 1993 the rate ofgrowth of world output will be below that of world population. Stagnation characterizes the developed market economies and decline continues to be a feature ofthe economies in transition. On the other hand, the developing countries as a group are growing at a pace not seen since the 1970s. Developing economies in Asia, including the most populous countries, and in the Southern cone of Latin America are expanding rapidly.

Related Subject(s): Economic and Social Development
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