The International Monetary Fund is still predicting global growth of 3.7 percent this year and 3.5 percent in 2019, a pretty good clip for this stage of the expansion. Deutsche Bank strategist Alan Ruskin also argues there is reason to be more upbeat than the headlines suggest. China’s economy, for example, is five times its size in 2000, meaning a 6 percent growth rate now is equivalent to 30 percent back then.
“When making even longer-term comparisons, absolute levels and changes become even more important than the limited perspective provided by percentage changes,” he wrote in a note to clients this week.
This article provided by Bloomberg News.