The IMF expects the global economy to grow by more than 3 per cent this year and next, or just under the average of the past 10 years. What we face now is better described as uncertainty rather than fear.
Nonetheless, the spirit of FDR’s comment applies – we must take care not to allow uncertainty to dominate our actions, letting profitable opportunities slip away and, more generally, compounding the very real, but still manageable, challenges facing the global economy.