According to a recent report by the World Bank, the global economy is expected to grow from its 2.4% growth in 2013 to 3.2% growth in 2014 and 3.4% in 2015. It is expected that this global growth will be led by the developed economies and strong economic conditions in China.
Additionally, the World Bank also warns of economic risks that could hinder the possible economic growth. The World Bank claims that economic conditions in the US, weakening economic performance in the euro zone, or possible negative economic effects of recent Chinese restructuring economic policies could pose as a threat to global growth.
Furthermore, the World Bank also analyzes economic growth in each region of the world or specific countries. For the US, the World Bank approves of the Federal Reserves decision to ease quantitative easing. For Japan, it warns that economic structural reforms will be needed. It warns that the banking sector remains weak in the euro zone. Lastly, it states that developing country growth in 2013 was 4.8% with economic growth in East Asia and Latin America to be flat and modest respectively, and in the Middle East, economic growth will not be positive due to social conditions of that region.
