A Yellow Card for the Global Economy
The latest figures on the state of the global economy have led investors and economists to use the term “synchronised growth” as a signal of a healthy, robust improvement in the worlds’ economies in 2017, with almost every country in the planet improving its economic output.
Indeed, 2017 was a year in which we saw upgrades to global growth driven by developed markets, with surprisingly stronger U.S. and Eurozone figures, and emerging markets shrugging off commodity volatility to deliver above-consensus growth figures. The world seemed to be finally exiting the risk of stagnation and delivering a promising 2018.
However, synchronised growth arrived with a less attractive partner: synchronised debt. 2017 showed the largest debt increase in fifteen years, and global debt exceeded 325% of GDP.
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