{
  "title": "The Task of Building Stronger, More Inclusive Growth",
  "publication": "IMF News, March 18, 2017",
  "sourceUrl": "https://www.imf.org/en/news/articles/2017/03/30/sp031817-the-task-of-building-stronger-more-inclusive-growth",
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  "summary": "Global growth is gaining momentum.",
  "publishDate": "2017-03-18",
  "sections": [
    {
      "heading": "Global outlook",
      "content": "- Global growth is gaining momentum.\n- Earlier this year the IMF projected growth would rise from 3.1 percent last year to 3.4 percent this year, and 3.6 percent in 2018.\n- Emerging markets remain the main source of growth: for each 1 percentage point of global growth, about 0.7 percentage points is expected to come from emerging markets.\n- Asia is leading with continued solid growth in China, India, and Indonesia.\n- A pickup is expected in the United States, where some fiscal stimulus is anticipated.\n- Europe is expected to continue its slow recovery."
    },
    {
      "heading": "Downside risks and near-term challenges",
      "content": "- Risk of a sharp tightening of financial conditions—potentially related to rising U.S. interest rates—that could trigger higher levels of capital outflows from emerging market countries.\n- Political developments creating headwinds, including:\n  - backlash against economic integration,\n  - war and terrorism,\n  - refugee flows."
    },
    {
      "heading": "Structural and policy challenges",
      "content": "- Fundamental need to lift growth to higher levels and to ensure that the benefits of growth are shared more widely.\n- Advanced economies with weak growth need:\n  - monetary or fiscal policies to help reignite demand,\n  - measures to address indebted companies and banks.\n- Emerging markets also need economic reforms; China’s rebalancing effort is key for transition to more sustainable levels of growth and is \"good for the world.\""
    },
    {
      "heading": "Making growth stronger and more inclusive",
      "content": "- Growth drivers: innovation and efficient allocation of resources.\n- Acknowledgement that forces of change will be disruptive if not managed well, with potential economic and political consequences.\n- Domestic policy responses to help those left behind:\n  - accelerate reforms to boost growth,\n  - expand education and training,\n  - strengthen social safety nets.\n- Emphasis on international cooperation: reinforce commitment to economic cooperation to maximize benefits of growth and global integration and to create opportunities for all people.\n- The IMF expresses commitment to this effort.\n\nIMF Deputy Managing Director Tao Zhang — Remarks to the China Development Forum, March 18, 2017\n\n---\n\n\n References\n\n- Tao Zhang\n- People's Republic of China and the IMF\n- India and the IMF\n- Indonesia and the IMF\n- United States and the IMF\n- Speeches\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2017/03/30/sp031817-the-task-of-building-stronger-more-inclusive-growth"
    }
  ],
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    "Published: March 18, 2017",
    "Global growth is gaining momentum.",
    "Earlier this year the IMF projected growth would rise from 3.1 percent last year to 3.4 percent this year, and 3.6 percent in 2018.",
    "Emerging markets remain the main source of growth: for each 1 percentage point of global growth, about 0.7 percentage points is expected to come from emerging markets.",
    "Asia is leading with continued solid growth in China, India, and Indonesia.",
    "A pickup is expected in the United States, where some fiscal stimulus is anticipated.",
    "Europe is expected to continue its slow recovery.",
    "Risk of a sharp tightening of financial conditions—potentially related to rising U.S. interest rates—that could trigger higher levels of capital outflows from emerging market countries.",
    "Political developments creating headwinds, including:",
    "Fundamental need to lift growth to higher levels and to ensure that the benefits of growth are shared more widely.",
    "Advanced economies with weak growth need:",
    "Emerging markets also need economic reforms; China’s rebalancing effort is key for transition to more sustainable levels of growth and is \"good for the world.\"",
    "Growth drivers: innovation and efficient allocation of resources.",
    "Acknowledgement that forces of change will be disruptive if not managed well, with potential economic and political consequences.",
    "Domestic policy responses to help those left behind:",
    "Emphasis on international cooperation: reinforce commitment to economic cooperation to maximize benefits of growth and global integration and to create opportunities for all people.",
    "The IMF expresses commitment to this effort.",
    "[Tao Zhang](https://www.imf.org/en/About/senior-officials/Bios/tao-zhang)",
    "[People's Republic of China and the IMF](http://www.imf.org/external/country/CHN/index.htm)",
    "[India and the IMF](http://www.imf.org/external/country/IND/index.htm)",
    "[Indonesia and the IMF](http://www.imf.org/external/country/IDN/index.htm)",
    "[United States and the IMF](http://www.imf.org/external/country/USA/index.htm)",
    "[Speeches](https://www.imf.org/en/news/searchnews)",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
  ],
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