The Globe and Mail reports in its Thursday edition that creeping doubts about the resilience of the world economy are re-emerging. The Globe Mike Dolan writes that the International Monetary Fund's latest global growth forecasts look serene at 3.2 per cent for this year. The fund even nudged up 2025 a notch to 3.3 per cent from April's call. Global stock market indexes are lapping up a diet of this "soft landing" for the U.S. and major economies. The prospect of seismic changes to the global economic and geopolitical landscape from a re-election of Donald Trump to the White House in November -- and in light of the boost to his chances of victory after Saturday's failed assassination attempt -- the picture seems a little too perfect. Even though the IMF had lifted 2024 China expectations to 5 per cent for the first time, its chief economist Pierre-Olivier Gourinchas admitted the new numbers pose a "downside risk" to that scenario already. Goldman Sachs and JPMorgan already moved to pare back their views on Monday. Presumably forecasts for China's economy do not yet include what Mr. Trump pledges on trade tariffs if he is elected -- a sweeping 60 per cent on Chinese imports alongside 10 per cent universal tariffs.
© 2025 Canjex Publishing Ltd. All rights reserved.