Situation of and outlook for the world economy at the start of 2017

Abstract

Global growth in 2016 disappointed analysts once again. Moreover, three far-reaching events occurred which, nevertheless, did not have an immediate major impact. At the start of the year, the Chinese financial markets experienced turbulence relating to the challenges the Chinese authorities face in implementing their structural reform programme. In June, the United Kingdom voted in favour of leaving the European Union, which means the loss of an influential partner in the process of European construction. Lastly, in November, the Republican candidate Donald Trump won the US presidential elections. This might entail a change in macroeconomic policies and check the process of globalisation. These events reveal a global economic setting shrouded in great uncertainty for the future