The fastest-growing economies in 2018 / China is the first
Tehran(KNA) : ever since the global economy completed its rebound from the financial crisis of 2008, it has grown at a moderate but steady pace. That trend is likely to continue in 2018.
According to the Economist Intelligence Unit (EIU), the world’s GDP is expected to increase by 2.7% this year, just slightly less than the 2.9% registered in 2017.
Once again, the biggest contributor will be China. The world’s second-biggest economy is projected to grow by 5.8% this year, representing roughly a third of the total global expansion. However, this rate is still a full percentage point less than the country’s mark last year: Xi Jinping, China’s president, is seeking to rein in credit growth, slowing its economy.
That leaves India as the world’s fastest-growing large economy, with a brisk projected increase in GDP of 7.8%. Southeast Asia is also expected to perform well: Vietnam, Cambodia, Myanmar and Laos are all slated to come in above 6%.
The rich world cannot hope to compete with such rapid growth rates. However, most developed countries should still at least approach a healthy 2%, and even long-moribund Italy is forecast to eke out a respectable 1.4%.
Source: The Economist