Last quote by Maurice Obstfeld
Maurice Obstfeld quotes
Global growth continues but at an increasingly disappointing pace, that leaves the world economy more exposed to negative risks. Growth has been too slow for too long.
Several large emerging market economies face deep contractions due to internal political strife or geopolitical pressures and a number of low-income countries suffer El Nino-related drought or flooding. The costs could escalate.
China has been transitioning to a model in which there is less of a dependence on exports, on investment, and more on consumption and services at the expense of traditional manufacturing industries.
Currency management is an area where the Chinese authorities could be communicating more clearly with markets.
In the advanced economies group, we do see an uptick for 2016 and 2017, but less of one than we would've predicted three months ago.
We don't see a big change in the fundamentals in China compared to what we saw six months ago, but the markets are certainly very spooked by small events there that they find hard to interpret.