by Rachel Stoltzfoos
The U.S. economy is looking pretty good right now compared to the global economy, where developed and developing nations alike — even China — are entering or experiencing economic downturns. And President Barack Obama has been bragging about it, “The United States has put more people back to work than Europe, Japan, and every other advanced economy combined,” he said recently. “I want you to think about that.”
The U.S. economy does look better now, but that’s in part because other countries all over the globe are facing renewed economic struggles, rather than because of U.S. economic success.
Here are six areas of the globe with economic trouble ahead.
The IMF warned in October the global economy might never recover the pace of expansion before the 2008 financial crisis. “The pace of global recovery has disappointed in recent years,” the IMF said, after revising its April forecast of global growth from 3.7 percent to 3.3 percent. “With weaker than expected global growth for the first half of 2014 and increased downside risks, the projected pickup in growth may again fail to materialize or fall short of expectation.”