The World Bank expects the global GDP to grow by 2.9 per cent in 2019, which means a slight moderation towards the long-term average. There are many downside risks to this forecast, including a slowdown in the United States and in China.
Low fertility and increasing life expectancy in most of the world's economies are causing a decline in the natural interest rate. Too restrictive monetary policy may increase the risk of the economy falling into a deflationary trap.
Critics believe that the internet is mostly used to promote low culture but thanks to the digital revolution culture is experiencing a revival,” says Professor Joel Waldfogel, economist at the University of Minnesota.