global economy

The international spread of capitalism , especially in recent decades, across national boundaries and with minimal restrictions by governments. The global economy has become hotly controversial. Critics allege that its props, free markets and free trade , take jobs away from well-paid workers in the wealthy nations while creating sweatshops in the poor ones. Its supporters insist that the free movement of capital stimulates investment in poor nations and creates jobs in them. The process is also called globalization.

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She added that she understood "the need to rebalance the global economy".

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Mr Gourinchas said the global economy "still bears significant scars" from the "severe shocks of the past four years".

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IMF chief economist Pierre-Oliver Gourinchas said the global economy "still bears significant scars" from the "severe shocks of the past four years".

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The IMF predicts the global economy will grow by 2.8% this year, down from its previous forecast of 3.3%, and by 3.0% in 2026.

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That’s because we’re stuck with a global economy still built for the peaceful post–Cold War era of the 1990s, while the geopolitical environment has turned much more confrontational.

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global dimming globalism

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