Abstract

The aim of the WER is to provide authoritative and objective analysis and commentary on the Welsh economy, and regional economies in general, in a manner that promotes understanding and informs decision-making. The intended audience includes academics, economic development practitioners, policy-makers, and anyone with an interest in the Welsh economy and/or regional economics.

Highlights

  • World Economy In October the International Monetary Fund (IMF) published its latest World Economic Outlook

  • According to The Economist (December 11th), ‘America, the Euro zone and the emerging world are heading in very different directions, with very different growth prospects and contradictory policy choices’ (p.13)

  • These economies contributed most to world economic growth in 2010 and predictions are for strong growth this year. These growth forecasts coupled with rising prices in many of these economies suggests the possibility of overheating, and a need for tighter economic policy. Such policies would have a moderating effect on economic growth in future years, these economies are still expected to outperform those of developed economies in the years to come

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Summary

Introduction

World Economy In October the International Monetary Fund (IMF) published its latest World Economic Outlook. Economic growth during 2010 was higher than had been predicted this time last year, and expectations are largely positive for 2011, with uneven growth prospects for different world economies. Economic growth in China and India, (and in some other emerging and developing economies) has been staggeringly high, even during the worst years of the financial crisis.

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