The world economy generally was still on the bumpy road to
recovery in 2013. The advanced economies continued to consolidate the economic
recovery. While the U. S. and Japan contributed to slow growth, the economies in
the euro zone ended of recession and showed signs of recovery. The economic
growth of emerging markets and developing economies further slowed down due to
domestic structural adjustment, accompanied by depressed commodity prices, decline
in external demand as well as the rising expectation on the “exit” policies of major
advanced economies. With the consolidation of recovery, the global job market
improved with lower unemployment rate, low prices run steady and fiscal balance
continued to ameliorate. However, the growth of international trade and foreign
direct investment lacks of stable supporting factors, and the public debts were rising to
a new high in some developed economies. In 2014, the world economy will
influenced by the factors such as the Fed tapering and its spillover effects, the
sovereign debts of the developed economies, progress in regional trade negotiations,
trade and investment protectionism, and so on. The global economic growth is
expected to remain in the medium-low level.
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