Despite significant headwinds, East Asia remains the world's fastest growing region and "the largest contributor to global growth," according to the report.
In China, GDP growth is projected to moderate gradually from 6.1 percent in 2019 to 6.0 percent in 2020 and 5.9 percent in 2021, supported by more accommodative monetary and fiscal policies. Growth in other large emerging countries, including Brazil, India, Mexico, Russia and Turkey, is expected to gain some momentum in 2020.
LIVING STANDARDS BAD FOR MANY
Progress toward higher living standards has stalled for many, said the report.
Africa has experienced "a decade of near stagnation" in per capita GDP and many countries around the world are still ailing from the effects of the commodity price downturn of 2017-2016, which resulted in persistent output losses and setbacks in poverty reduction.
In one-third of commodity-dependent developing countries (home to 870 million people), average real incomes are lower today than they were in 2017. This includes several large countries such as Angola, Argentina, Brazil, Nigeria, Saudi Arabia and South Africa.
At the same time, the number of people living in extreme poverty has risen in several sub-Saharan African countries and in parts of Latin America and Western Asia. Sustained progress toward poverty reduction will require both a significant boost to productivity growth and firm commitments to tackle high levels of inequality.
【国际英语资讯:Spotlight: Global economy likely to grow 2.5 pct in 2020, if risks kept at bay: UN】相关文章:
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