Twice a year the International Monetary Fund (IMF) release a huge report that says what they think is happening to the world’s economy. The problem is, it’s 200 pages long. It basically says that the world’s economy isn’t doing so great at the moment, but that it might get better. Maybe.
We honestly couldn't make it through the whole report, but we took a look at the summary and then summarized that for you. Warning: even this may induce headaches and tiredness. Do not operate heavy machinery after reading.
1. is gonna be slow this year, then get a tiny bit better
2.This is partly down to Brexit, which is still kinda freaking people out
3. It’s also because the US economy hasn’t been doing as well as people expected
4. And because countries are trading less with one another
5. Especially China, which is exporting less stuff abroad
6. The world’s also looking less stable on the political front
7. The growth situation we talked about has been like this since 2012
8. There’s still lots of uncertainty about the future
9. Because things like Brexit are showing just how fragile Europe is at the moment
10. The amount people produce while at work is also down, but no one really understands why
11. That said, growth is actually looking better in some parts of Asia, especially India
12. But it’s not looking so great in Africa, because things like crops and oil are down in price
13. Things may get better in 2017, but…
14. Only if things get better
15. So, yes that’s ‘things will get better if things get better’
16. But there’s still a big risk things won’t get better
17. Because people in the US and Europe can’t make up their minds whether things like economic migration are good or bad
18. So lots of countries seem to be deciding to look after themselves
19. Also, people are worried about their incomes remaining low and how secure their jobs are
20. This means people in rich countries are buying less stuff, which is also bad for the economy
21. And as growing countries shift from manufacturing to services, they're buying less physical stuff too
22. Then there's all the bigger global issues like conflict and drought, which pose serious risks of their own to the economy
23. There is some good news, like more jobs being created in the US
24. But generally everything’s a bit shit everywhere
25. So politicians need to pull their fingers out
26. They need to find ways to get more people into work, and make sure they earn decent wages
27. And invest more in , infrastructure and innovation
28. The ultimate aim being to create more demand for products and services, and so stimulate more growth
29. They also need to get better at managing their finances
30. We're all in this together
Oh, and for those of you who've got the stamina and really want to read the whole thing, here's the full report.
