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World economy risks 'dangerously diverging' even as growth booms

While America's booming economy will undoubtedly act as a driver for the rest of the world by sucking in imports, there could also be some grumbling about the higher market borrowing costs

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Yet unlike in the aftermath of the 2008 financial crisis, the recovery looks lopsided, in part because the rollout of vaccines and fiscal support differ across borders | Photo: Bloomberg

Rich Miller and Enda Curran | Bloomberg

5 min read Last Updated : Apr 05 2021 | 1:28 AM IST

The world economy is on course for its fastest growth in more than a half century this year, yet differences and deficiencies could hold it back from attaining its pre-pandemic heights any time soon.

The US is leading the charge into this week’s semi-annual virtual meeting of the International Monetary Fund, pumping out trillions of dollars of budgetary stimulus and resuming its role as guardian of the global economy following President Joe Biden’s defeat of “America First” President Donald Trump. Friday brought news of the biggest month for hiring since August.

China is doing its part too, building on its success

Topics : Coronavirus Global economy US economic growth Global Markets US markets US Federal Reserve IMF

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