{
  "title": "World Economic Outlook, October 2010: Recovery, Risk, and Rebalancing",
  "publication": "World Economic Outlook, October 6, 2010",
  "sourceUrl": "https://www.imf.org/en/publications/weo/issues/2016/12/31/world-economic-outlook-october-2010-recovery-risk-and-rebalancing-23542",
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  "summary": "The recovery from the Great Recession is proceeding broadly as expected, but most advanced economies and a few emerging economies still face large adjustments, are recovering only sluggishly, and have continued high unemployment.",
  "publishDate": "2010-10-06",
  "series": "World Economic Outlook",
  "sections": [
    {
      "heading": "Overview and main messages",
      "content": "- Publication date: October 6, 2010\n- Central assessment: The recovery from the Great Recession is proceeding broadly as expected, but most advanced economies and a few emerging economies still face large adjustments, are recovering only sluggishly, and have continued high unemployment.\n- Divergence in performance:\n  - Many emerging and developing economies are again seeing strong growth.\n  - Advanced economies require internal rebalancing (strengthening private demand to allow for fiscal consolidation).\n  - External rebalancing needed: increase in net exports in deficit countries and decrease in net exports in surplus countries, notably emerging Asia.\n- Analytical focus:\n  - One analytical chapter examines the effects on output and employment of fiscal consolidation in advanced economies using detailed budget data.\n  - The other analytical chapter examines the collapse and recovery of trade in economies that have experienced crises."
    },
    {
      "heading": "Findings and analytical conclusions",
      "content": "- Recovery characterization:\n  - Recovery is broadly as expected overall, but heterogenous across countries and regions.\n  - Advanced economies: sluggish recoveries and continued high unemployment.\n  - Emerging and developing economies: many showing strong growth.\n- Rebalancing requirements:\n  - Internal rebalancing: strengthening private demand in advanced economies as a prerequisite for sustainable fiscal consolidation.\n  - External rebalancing: adjustment of net exports with deficit countries increasing net exports and surplus countries (notably emerging Asia) reducing net exports.\n- Policy interactions: The edition examines interactions between internal and external rebalancing and the policies required to support these adjustments.\n- Trade dynamics: The collapse and recovery of trade in crisis-hit economies are examined to understand trade's role in the global recovery."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Support internal rebalancing in advanced economies by policies that strengthen private demand to create space for fiscal consolidation.\n- Facilitate external rebalancing by encouraging adjustments in net export positions:\n  - Deficit countries: policies to increase net exports.\n  - Surplus countries, notably emerging Asia: policies to decrease net exports.\n- Use detailed budget data to assess the short-term and medium-term effects of fiscal consolidation on output and employment when designing consolidation strategies.\n- Address trade collapse and recovery dynamics in crisis-affected economies to bolster global recovery.\n\n---\n\n Content in this bundle\n\n- Text (PDF){rel=\"external\" type=\"application/pdf\"}\n- Texta (PDF){rel=\"external\" type=\"application/pdf\"}\n- Textf (PDF){rel=\"external\" type=\"application/pdf\"}\n- Texts (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/weo/issues/2016/12/31/world-economic-outlook-october-2010-recovery-risk-and-rebalancing-23542"
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    "Published: October 6, 2010",
    "Series: World Economic Outlook",
    "DOI: https://doi.org/10.5089/9781589069473.081",
    "Publication date: October 6, 2010",
    "Central assessment: The recovery from the Great Recession is proceeding broadly as expected, but most advanced economies and a few emerging economies still face large adjustments, are recovering only sluggishly, and have continued high unemployment.",
    "Divergence in performance:",
    "Analytical focus:",
    "Recovery characterization:",
    "Rebalancing requirements:",
    "Policy interactions: The edition examines interactions between internal and external rebalancing and the policies required to support these adjustments.",
    "Trade dynamics: The collapse and recovery of trade in crisis-hit economies are examined to understand trade's role in the global recovery.",
    "Support internal rebalancing in advanced economies by policies that strengthen private demand to create space for fiscal consolidation.",
    "Facilitate external rebalancing by encouraging adjustments in net export positions:",
    "Use detailed budget data to assess the short-term and medium-term effects of fiscal consolidation on output and employment when designing consolidation strategies.",
    "Address trade collapse and recovery dynamics in crisis-affected economies to bolster global recovery.",
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