The latest economic data indicate that the European economy is positive, but it still faces more challenges that if the trajectory can continue in the future.
Trade war between the Trump Administration with strong protectionism and China has escalated, more trade disputes will occur between the Trump Administration and the European countries, Britain announced to exit from the European Union and set to begin the transition of exiting the European Union, the separatist forces prevail in Europe.
As a result of these events, more people started to concern about that varieties of uncertainties will derail the global economic recovery.
The driver of globalization has shifted from developed countries to emerging economies. The emerging economies should further open their markets to grasp the upcoming opportunities of new globalization.
Globalization as we know it has meant long cross-border supply chains, where many different countries and entities would take part in the production or processing of goods.
The resulting value of trade rose for each country as a proportion of gross domestic product (GDP). Robotics, digitization and localization mean that trade wars today are fighting battles from the past.
The global economic growth faces hurdles.Predict that the potential economic growth rate in developed countries and emerging countries will remain sluggish, and this trend will continue over the next several years.