Below is a guest post by Claire Schachter, research associate in the International Institutions and Global Governance program.
The Spring Meetings of the IMF and World Bank Group are underway in Washington, DC. The world’s top finance officials are painting the brightest picture of the global economy since the 2008 financial crisis: global growth is picking up, the United States’ recovery is gaining traction, and the future of the euro appears less precarious. But if one steps back to view the scene with a broader perspective, the portrait darkens. From slower emerging market growth to risk in China’s shadow banking sector to weak internal demand in the southern part of the euro area, the steady recovery of the global economy is hardly a sure bet. Unfinished economic and financial policy reforms litter the post-2008 landscape. A renewed commitment to improving the resilience of the global economy from domestic leaders and international financial governance institutions is critical. Read more »