93rd International Business Cycle Forum

The World Economy in TurmOil

15 Mar 2016

The world economy faces another period of comprehensive change. The drastic drop in the prices of oil and other raw materials massively redirects income flows on a global scale. While purchasing power shifts from producers to consumers of these goods, production structures in all affected economies must adapt to new patterns of demand. In many emerging countries, this process overlaps with other pressures for restructuring which feeds into the divergence of economic perspectives in the world economy. Plus, the European Union faces an unprecedented influx of refugees that challenges national policies and the overall governance structure in the EU alike.