The last time I gave a speech at the Kisaragi-kai meeting last December, I referred to the remark by Christine Lagarde, the Managing Director of the International Monetary Fund (IMF), that the global economy is showing "the broadest-based recovery in the last 10 years."
In the almost half year since then, this synchronous growth of the global economy, with both the advanced and emerging economies growing in a well-balanced manner, has become more pronounced. Such synchronous growth can also be observed at the industry level (Chart 1).