These settings remained supportive of strong capital flows to emerging markets. Stronger demand underpinned higher commodity prices, reinforced by strong growth in China. This favourable setting did not last long into the first half of 2018. Expectations of a faster pace of monetary tightening than previously expected began to emerge as the strong US growth was sustained.
When job losses occur, however, there should be temporary social support to assist the unemployed from falling below the poverty line. One of the weakest links in the chain of our economic development cycle has been the lack of effective monitoring and evaluation.