Is the world economy staging a comeback?

While there are enough reasons to feel better now, let's wait before popping the champagne cork

The world economic picture has not looked so rosy for quite some years. The update of the World Economic Outlook published at the beginning of the week forecasts a solid 3.5 per cent global growth for this year, and 3.6 per cent for 2018. Most significant in the International Monetary Fund (IMF) analysis is the picture of China, the Euro Zone and Japan forging ahead – respectively at 6.7 per cent, 1.9 per cent, and 1.3 per cent – and each of them at a stronger momentum than anticipated at the beginning of the year. The forecast for India is