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Global growth is now being stuck in a “mediocre” plateau, but no one seems to bother.
World growth risks getting trapped in the 2%-3% range it’s been in since 2010. The International Monetary Fund managing director Christine Lagarde has derided the level as “the new mediocre” compared with the 3.6% average in the five years leading to the 2008-09 global recession.

Here is the prevailing situation.

The US Federal Reserve looks set to refrain from raising interest rates again at its meeting today; China is obsessed with grabbing a greater share of world markets (its global export share climbed from 12.9% in...

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  • Barry Eichengreen

    Barry Eichengreen is a non-resident CIGI Senior Fellow. He is the George C. Pardee and Helen N. Pardee Professor of Economics and Professor of Political Science at the University of California, Berkeley, where he has taught since 1987. He is also a research associate of the National Bureau of Economic Research (Cambridge, Massachusetts). At CIGI, his research will focus on the internationalization of the renminbi.

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