Scenario Eco - September 2015 - Is productivity waning?
Global growth is being stifled by the slowdown in China and its knock-on effect in several emerging countries, while the recovery in developed markets, albeit firming up, remains weak.
The prospect of a rebound in global growth has thus been set back. This follows other disappointments and raises questions about the growth potential of developed economies, which has declined significantly in the past three years. The reasons for the decline are still up for debate, but they are partially structural and reflect a lasting drop in productivity.
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