The World Economy Is Growing!

This article was contributed by Andrea Boltho, Duff & Phelps Real Estate Advisory Group (REAG) Advisory Board Member and Emeritus Fellow, Magdalen College, University of Oxford

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The world economy seems to have shrugged off the political shocks coming from Brexit and from the American Presidential election. Activity is growing at a moderate but steady pace in both the UK and the US. More importantly, this is also happening in the wider world. East Asia is seeing continuing and relatively rapid expansion in China as well as a resumption of (admittedly only modest) growth in Japan. Both Brazil and, especially, Russia are coming out of their deep recent recessions and the Eurozone seems finally to have reached its cruising speed. Not since 2010-11 has the world seen such a coordinated and, so far, smooth upswing.