Table 1 Real GDP and CPI Forecasts for Major World Countries Indicator  Real GDP (YoY%)  CPI (YoY%)  Year  2016  2017  2016  2017  United States  1.6  2.3  1.3  1.9  Japan  0.7  0.8  -0.2  0.0  Euro Area  1.7  1.7  0.2  1.3  UK  1.3  1.5  0.7  2.5  China  6.5  6.2  2.0  2.2  India  6.6  7.2  5.0  4.7  Source: IMF, ECB, Fed, Bank of Japan, Bank of England, and Bloomberg.
2. RISKS TO THE GLOBAL ECONOMIC OUTLOOK A. US policy uncertainty due to new fiscal and trade policy 7  In the final months of 2016, financial markets responded to Donald Trump’s election in textbook fashion - not only at asset class level, with upward movements in stocks and government bond yields, but also within asset classes.