Published in Oct 2017

Based on data published by International Monetary Fund (IMF), it appears that we have successfully recovered from the Great Recession of 2007. Global Growth has picked up around the world in what is being termed as “synchronized global growth” across the globe. Hence, ten years after the Great Recession started, global economic growth is accelerating and stock markets around the world are hitting record highs.

The IMF stated that “The outlook is strengthening, with a notable pickup in investment, trade, and industrial production, together with rising confidence.” However, this has been tempered with the caveat that “recovery is not yet complete.” But this is good news since even cautious optimism has not been heard for nearly a decade. The IMF predicts that global economic growth will average 3.6% in 2017 which is 0.5% higher than in 2016. The Eurozone has been a particular bright spot—growth there is at a ten-year high and unemployment is at a nine-year low. The U.S. economy grew 3.3 percent in the third quarter of 2017, a three-year high, and unemployment is the lowest it’s been since 2000. China looks to be beating its target of 6.5 percent growth in 2017, though it continues to face risks. Even Russia, which has struggled for several years because of low oil prices and sanctions over Ukraine, is seeing modest growth.

Albeit the fact that this is good economic news, it is our view that our Administration must continue to (re)negotiate one sided treaties such as NAFTA, TPP and China, to level the playing field for American Businesses and bring down the trade Barriers and advance Trade Deficits. We believe that this Global Growth will help in our negotiations move forward more smoothly with China, Eurozone, Mexico, Canada and other Trading Partners since there is prosperity and optimism all around.