Storm Clouds Are Brewing for the Global Economy

The outlook for the global economy in 2019 has darkened. GEP-2019a-Front-Cover.jpg

International trade and investment have softened. Trade tensions remain elevated. Several large emerging markets underwent substantial financial pressures last year.

Against this challenging backdrop, growth in emerging market and developing economies is expected to remain flat in 2019. The pickup in economies that rely heavily on commodity exports is likely to be much slower than hoped for. Growth in many other economies is anticipated to decelerate.

In addition, risks are growing that growth could be even weaker than anticipated, the World Bank’s January 2019 Global Economic Prospects reports.


 

World Development Report: The Changing Nature of Work

The World Development Report (WDR) 2019: The Changing Nature of Work studies how wdr2019the nature of work is changing as a result of advances in technology today. Fears that robots will take away jobs from people have dominated the discussion over the future of work, but the World Development Report 2019 finds that on balance this appears to be unfounded. Work is constantly reshaped by technological progress. Firms adopt new ways of production, markets expand, and societies evolve. Overall, technology brings opportunity, paving the way to create new jobs, increase productivity, and deliver effective public services. Firms can grow rapidly thanks to digital transformation, expanding their boundaries and reshaping traditional production patterns.

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Doing Business Report: New Record Set as 314 Reforms Introduced to Improve Business Climate Around the World

WASHINGTON, October 31, 2018 – Governments around the world set a new record in Doing Business 2019bureaucracy busting efforts for the domestic private sector, implementing 314 business reforms over the past year, says the World Bank Group’s Doing Business 2019: Training for Reform report, released today.

The reforms, carried out in 128 economies, benefit small and medium enterprises as well as entrepreneurs, enabling job creation and stimulating private investment. This year’s reforms surpass the previous all-time high of 290 reforms two years ago.

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