Global Economy- Some Economies Doing Well, Others Facing Severe Problems
If you analyze the global economy in 2015, it is quite a mixed bag. Some countries are doing very well while others are facing some serious problems when it comes to economic progress. For the global economy to move forward towards progress that will ensure better lives for its more than 7 Billion human inhabitants there must be a good progress economically in every region of the planet. A detailed look at the global economy points out regions or countries that are either recovering or looking economically optimistic. It also points out those that are facing challenges. The following is a brief summary of which countries are doing well economically and which are facing problems in 2015.
Global Economy 2015
Countries Doing Well
• The best news for the global economy is that United States of America is definitely on the path of recovery with strong economic data coming out of USA. The jobs numbers are good, unemployment rate is low and the demand in the economy is once again rising. Also the growth forecast of United States is quite good for the near future.
• Countries like India have revised their economic growth forecast to a more optimistic estimate. There are some new ideas for growth in the Indian economy and there is an overall optimistic economic outlook coming out of India which is population wise one of the largest countries on the planet.
Countries not Doing So Well
• China is facing some major economic problem in 2015 after decades of economic progress. There is weak demand in China and the real estate industry is facing severe challenges. Foreign trade numbers have fallen and the country has had to revise its GDP growth estimates to 7% which is very low for Chinese standards over the last few decades. Inflation has also dropped considerably in China and there are genuine fears of deflation in the world’s second largest economy.
• Countries like Italy and Japan have been going in and out of recession in the last few months and France is also facing some tough times. Greece is still economically very vulnerable and there are some major economic challenges in European economies.
• Unemployment is high in Europe especially in countries like Spain and Greece. Russia is reeling under low oil prices and sanctions, which have had a negative impact on the Russian economy.
The above mentioned countries are just some of the major economies around the world and as mentioned above the world economy is quite in a mixed bag state at the moment.