| If you live in the West, this year will bring not only the best economic growth since the financial crash, but also a welcome increase in real income for consumers created by lower commodity prices, particularly oil. However, for the emerging economies that produce the commodities, the opposite is true. The past year was a terrible one for them, and this year promises to be even worse. Economic divergence between the rich and poor countries has never been greater.
The European economies should stage something of a recovery, according to the consensus of economic forecasters, driven by the north, notably Germany – although Britain, the EU’s No 2 economy, should still lead the way at 2.3 per cent. Not that..............................................Full Article: Source
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