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Global economies in 2020 and beyond

Over the past decade, major economies have more than recouped the GDP lost during the financial crisis. Yet governments, companies and households have spent more time repairing their balance sheets than spending, while central banks have reverted to the tools that failed them in the past.

In the 10th anniversary edition of our quarterly Economic Outlook, we consider how the potent combination of protectionism and geopolitical turmoil have the potential to reignite uncertainty about economic growth. Will central banks continue to exhaust their monetary-policy tools, or will governments increase fiscal spending to support growth?

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