Most parts of the world have also been experiencing a period of robust world growth, but while it may be true that every cloud has a silver lining, sometimes a silver lining may have a cloud. In some respects this holds true for the current world growth performance.
At the time LIBOR was created, a substantial amount of that unsecured borrowing was in the interbank market, but that is no longer the case. Broadening the definition to include the unsecured borrowing from nonbanks would make the rate more representative of current funding practices.