Global prospects The world economy is once again experiencing a period of slowing growth, only this time the key areas of weakness are found in the emerging markets. Some argue that eight years after the onset of the global financial crisis we are still not out of it yet.
What started off as a subprime crisis in the United States became a crisis for the global financial system, morphing into a government debt crisis in Europe and now, potentially, a crisis for the emerging markets. The International Monetary Fund (IMF), estimates that global economic growth slowed to 3,1 per cent last year, down from 3,4 per cent in 2014.