Since its trough in the spring of 2016, the global economy has accelerated meaningfully, driven by looser global financial conditions, the stabilisation in commodity prices and the delayed impact of Chinese stimulus measures taken early last year.
As the impact of stimulus in both China and the developed world starts to fade and demand moderates, due to commodity prices eroding consumer purchasing power, the momentum in global growth could start to slow. There are some early signs this has started. For now, growth in China continues to hold up well. But the central bank has shifted toward monetary tightening. At the same time, authorities have introduced measures to cool the property market. The confluence of these factors should eventually have an effect on growth. SLI GARS caught out by Asia outperformance in Q1 Even so, t...
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