The steadily expanding global economy should remain resilient at least for a couple of years the World Bank says.
The anti-poverty agency predicts global growth will decelerate slightly from a solid 3.1 per cent this year to 3 per cent next year and 2.9 per cent in 2020.
The world economy is generally healthy but must contend with rising interest rates in wealthier countries and weaker demand for commodities in developing nations. It also faces risks from trade disputes, financial volatility and geopolitical tensions.
The World Bank predicts that US growth will register 2.7 per cent in 2018, aided by tax cuts, before slowing to 2.5 per cent next year and 2 per cent in 2020. China’s growth is projected at 6.5 per cent this year, 6.3 per cent in 2019 and 6.2 per cent in 2020.