B2 – Upper Intermediate
The IMF’s recent World Economic Outlook indicates that while global growth remains steady, it is underperforming compared to pre-pandemic levels. Key risks include geopolitical tensions, volatility in financial markets, and potential challenges in China’s property sector. These issues are prompting economists to push for structural reforms and a “policy pivot”.
Listen to the audio and/or read the transcript to know how this policy pivot can sustain economic recovery through targeted fiscal and monetary adjustments.
https://www.imf.org/en/Publications/WEO/Issues/2024/10/22/world-economic-outlook-october-2024
Vocabulary Questions:
- Explain “sectoral dynamics”. “As global disinflation continues, services price inflation remains elevated in many regions, pointing to the importance of understanding sectoral dynamics and of calibrating monetary policy accordingly.” Use it in a sentence.
- Define “cyclical imbalance“. “With cyclical imbalances in the global economy waning, near-term policy priorities should be carefully calibrated to ensure a smooth landing.” Use it in a sentence.
- What does “bolster” mean? “These have been compensated for by upgrades to the forecast for emerging Asia, where surging demand for semiconductors and electronics, driven by significant investments in artificial intelligence, has bolstered growth, a trend supported by substantial public investment in China and India.” Give two (2) synonyms or similar expressions and use ‘bolster’ in your own sentence.
Discussion Questions:
- What are some potential impacts on consumers if financial market volatility increases?
- Why do you think a policy pivot is important for maintaining economic stability right now?
- How might challenges in China’s property market influence other economies around the world?
- How do you think rising geopolitical tensions affect the global economy and international trade?
- Do you agree or disagree with this, “Support for the most vulnerable should be maintained.” Share your thoughts.