1.1 Global Economic Performance: Economic Report on Africa 2007
1.1 Global Economic Performance: Economic Report on Africa 2007
cent in 2005 (figures 1.1 and 1.2). Globally, growth rates were highest in South-east
Europe and Commonwealth of Independent States (CIS) countries as well as in East
and South Asia. Growth in the least developed countries remained above 6 per cent
since 2001 (United Nations 2007 and UNCTAD 2006a). High prices for oil and other inputs and a tendency towards more restrictive monetary policies in industrial
countries combined with some turbulence in financial markets are likely to contribute
to a slowdown in 2007 (UNCTAD 2006a; UN-DESA 2006).
Growth in the USA slowed slightly during the second half of 2006 and might slacken
further in 2007 but is not likely to go into recession. The decline in house prices
is expected to weaken consumer spending as well as import demand (UN-DESA
2006; United Nations 2007). Rising oil prices and increasing imbalances also constitute
important downside risks for growth.
The Euro area grew by a modest 2.5 per cent in 2006, though it was the highest
growth rate since 2000. This was driven by higher domestic demand, particularly
investment expenditure, as well as strong export performance. In 2007, it is expected
that external demand will decline, and that stronger currencies will hamper exporters.
Monetary and fiscal policies are also expected to tighten, which will reduce
growth. Growth in Japan is attributable to buoyant domestic demand and employment
growth, but it is expected to slow down in 2007 (UN-DESA 2006; United
Nations 2007).
China and India are engines of trade in developing Asia
Growth in developing Asia was high in 2006, driven by China (10.2 per cent) and
India (7.7 per cent), which are the engines of trade in manufacturing within the
region. In addition, domestic demand has also recovered in most Asian countries.
Growth in the region is expected to decline to a more sustainable yet still strong
pace due to a slowdown in external demand for Asian products. Additional downside
risks include protectionist trade policies in major export destination countries,
further increase in the level and volatility of oil prices, the avian influenza, as well
as political and geopolitical uncertainties, especially in the Islamic Republic of Iran,
Nepal and Sri Lanka (United Nations 2007; UN-DESA 2006; UNCTAD 2006a).
China is not only experiencing rapid growth but also rapid structural change driven
by FDI and a rise in competitiveness. Despite strong growth in manufacturing wages
(between 12 and 16 per cent in recent years), unit labour costs in manufacturing
are falling due to growth of labour productivity by around 20 per cent per annum
(UNCTAD 2006a).
Growth in Latin America has remained above 4 per cent for the past three years due
to strong external and domestic demand. At the same time, growth in the region
has become more broad-based. However, the external sector remains vulnerable and
the region might suffer from higher interest rates in global capital markets as many
countries have relatively high debts, which will slow down growth in 2007 and in
subsequent years (UN-DESA 2006; United Nations 2007).
11 Global Economic Performance Economic Report on Africa 2007 - To learn more about this author, visit United Nations Economic Commission for Africa's Website.
Like this article? Share it with your friends
In 2006, world economic growth improved slightly to 3.8 per cent from 3.5 per
cent in 2005 (figures 1.1 and 1.2). Globally, growth rates were highest in South-east
Europe and Commonwealth of Independent States (CIS) countries as well as in East
and South Asia. Growth in the least developed countries remained above 6 per cent
since 2001 (United Nations 2007 and UNCTAD 2006a). High prices for oil and other inputs and a tendency towards more restrictive monetary policies in industrial
countries combined with some turbulence in financial markets are likely to contribute
to a slowdown in 2007 (UNCTAD 2006a; UN-DESA 2006).
Growth in the USA slowed slightly during the second half of 2006 and might slacken
further in 2007 but is not likely to go into recession. The decline in house prices
is expected to weaken consumer spending as well as import demand (UN-DESA
2006; United Nations 2007). Rising oil prices and increasing imbalances also constitute
important downside risks for growth.
The Euro area grew by a modest 2.5 per cent in 2006, though it was the highest
growth rate since 2000. This was driven by higher domestic demand, particularly
investment expenditure, as well as strong export performance. In 2007, it is expected
that external demand will decline, and that stronger currencies will hamper exporters.
Monetary and fiscal policies are also expected to tighten, which will reduce
growth. Growth in Japan is attributable to buoyant domestic demand and employment
growth, but it is expected to slow down in 2007 (UN-DESA 2006; United
Nations 2007).
China and India are engines of trade in developing Asia
Growth in developing Asia was high in 2006, driven by China (10.2 per cent) and
India (7.7 per cent), which are the engines of trade in manufacturing within the
region. In addition, domestic demand has also recovered in most Asian countries.
Growth in the region is expected to decline to a more sustainable yet still strong
pace due to a slowdown in external demand for Asian products. Additional downside
risks include protectionist trade policies in major export destination countries,
further increase in the level and volatility of oil prices, the avian influenza, as well
as political and geopolitical uncertainties, especially in the Islamic Republic of Iran,
Nepal and Sri Lanka (United Nations 2007; UN-DESA 2006; UNCTAD 2006a).
China is not only experiencing rapid growth but also rapid structural change driven
by FDI and a rise in competitiveness. Despite strong growth in manufacturing wages
(between 12 and 16 per cent in recent years), unit labour costs in manufacturing
are falling due to growth of labour productivity by around 20 per cent per annum
(UNCTAD 2006a).
Growth in Latin America has remained above 4 per cent for the past three years due
to strong external and domestic demand. At the same time, growth in the region
has become more broad-based. However, the external sector remains vulnerable and
the region might suffer from higher interest rates in global capital markets as many
countries have relatively high debts, which will slow down growth in 2007 and in
subsequent years (UN-DESA 2006; United Nations 2007).
11 Global Economic Performance Economic Report on Africa 2007 - To learn more about this author, visit United Nations Economic Commission for Africa's Website.
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
|||
George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
|||
David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
 | |
|  |
Subscribe to United Nations's articles
 | |
|
|  |
 | |
|
| |
 | |||||||
|
 | ||
 |
||
 |
||
|
||
|
| ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
|
 Radio Campaigns Boomers & Zoomers New Year Revolutions Social Bookmarking Guide The Small Picture |
|
 | ||
 |
The Top 10 GTD Times Posts
Best Posts for Productivity | |
 |
Top 50 Business Plans
Top Business Plan Blogs | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
||||||||||||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
| ||||||||||
|
| ||||||||||
|
|
||||||||||