InternationalThe International Monetary Fund (IMF), the Organization for Economic Co-operation and Development (OECD) and others have lowered their forecasts for global growth in 2015. Much of the fear stems from slower growth in China, Japan’s surprisingly weak economy, and the negative impact of sanctions on Russia. Each of these has the potential to disrupt the global economy in ways greater than the current consensus believes.However, we note the rising use of technology offers real opportunities in some economies that are tech proficient, innovative, and business friendly. In addition, the 2014 election of pro-business leaders with new ideas in India and Indonesia may lead to a wave of growth in Asia. This will partially offset weakness in China and Japan. We believe nations which import commodities will continue to benefit from low oil and mineral prices, favoring economies such as Turkey and India. |
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