Different outlooks. (world economy may expand 4.5% by 2002; includes additional international business news)(Business This Week)(Brief Article)

Economist (US), The, September, 1997

The world economy is set fair for steady expansion of about 4.5% a year over the next five years, according to predictions from the IMF in its annual World Economic Outlook. It praised central banks for keeping inflation under control. Two surprises: the IMF raised its forecast for growth in America this year and next strongly upwards; but in Japan, growth in 1997 is predicted at half the IMF's forecast of a year earlier and nearly a percentage point down in 1998.

A report from a United Nations agency took a different tack, arguing that the global economy was growing too slowly to create enough jobs to reduce unemployment in industrial countries or to eliminate poverty in less developed ones. The UNCTAD study on globalisation said that the differences in income...

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