World Economy Is Still Dependent On The USA

At the beginning of 2017, the world economic outlook will greatly depend on the USA. Indeed, in our view the US economy is the most promising in the developed world as the eurozone could see a deceleration of GDP growth (from 1.6% in 2016 to 1.4% in 2017 according to Bloomberg consensus estimate) and Japan is still stuck in low inflation. The outlook of emerging markets is also uncertain. Despite the expected economic rebound in Russia and Brazil

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