November 16, 2018
The way we work is changing at an unprecedented rate. Digitalization, artificial intelligence, and machine learning are eliminating many jobs involving low and middle-skill routine tasks through automation. […]
September 6, 2018
Countries cooperate if they perceive it to be in their best interests, both economically and politically. […]
August 29, 2018
With about 1 million robots in use in Asia, robotics and automation mean economic risks and growth opportunities for the region. […]
July 30, 2018
Globalization has accelerated the spread of knowledge and technology across borders. This has helped to increase productivity and potential growth in many countries and at the global level. […]
June 12, 2018
As Japan’s population ages and the birth rate is too low to sustain growth, the country is no stranger to coping with a limited number of working age people. […]
April 17, 2018
The world economy continues to show broad-based momentum. Against that positive backdrop, the prospect of a similarly broad-based conflict over trade presents a jarring picture.
Three months ago, we updated our global growth forecast for this year and next substantially, to 3.9 percent in both years. That forecast is being borne out by continuing strong performance in the euro area, Japan, China, and the United States, all of which grew above expectations last year. We also project near-term improvements for several other emerging market and developing economies, including some recovery in commodity exporters. Continuing to power the world economy’s upswing are accelerations in investment and, notably, in trade. […]
April 16, 2018
The dizzying gyrations of crypto-assets such as Bitcoin invite comparisons with the tulip mania that swept Holland in the 17th century and the recent dot-com bubble. With more than 1,600 crypto-assets in circulation, it seems inevitable that many will not survive the process of creative destruction.
In my blog last month, I looked at the dark side of crypto-assets, including their potential use for money laundering and the financing of terrorism. Here, I want to examine the promise they offer. A judicious look at crypto-assets should lead us to neither crypto-condemnation nor crypto-euphoria. […]
April 9, 2018
It took 1,000 years for the invention of paper to spread from China to Europe. Nowadays, in a world that has become more integrated, innovations spread faster and through many channels.
Our research in Chapter 4 of the April 2018 World Economic Outlook takes a closer look at how technology travels between countries. We find that the spread of knowledge and technology across borders has intensified because of globalization. In emerging markets, the transfer of technology has helped to boost innovation and productivity even in the recent period of weak global productivity growth. […]