However, this has not happened; global growth expectations have been steadily revised downward since 2011, and the fragility has spread to emerging markets. Global growth in 2016 is now projected at just over 3%—below the outcome in 2014—and the differences are wider for emerging market countries. The repeated downward revisions to growth have reflected growth fundamentals, namely the capacity to grow sustainably, rather than cyclical factors. Let’s look more specifically at China’s growth outlook and uncertainties, and its lessons for other emerging markets, including India. These challenges facing China and many emerging markets are compelling, but they have the buffers to undertake reforms without social dislocations.

Source: Mint August 28, 2016 19:07 UTC