Slowing global economic growth during the past two years frames a key question for investors: How is global growth likely to perform over the next decade?
This paper focuses on two clear—and we believe predictable—trends that will likely shape economic performance:
- Global demographics are poised to become less supportive, and
- Economic growth in China is likely to moderate further.
The bottom line? Investors need to prepare for the likelihood that overall global growth will be on a decelerating trajectory, to be accompanied by sustained low inflation, stimulative central banks, low longer-term interest rates, and declining spreads and asset returns.