Hello. Today we look at whether Europe will be the next global growth driver, examine China’s census and discuss if inheritance taxes are set for a comeback.
A New Leader
The European economy just flopped into a double-dip recession, but it already seems to be bouncing back and could even start outpacing the U.S., providing another engine for global growth.
Among the reasons for optimism: economies are reopening, the delivery of vaccinations are finally accelerating and the European Union’s multi-year joint stimulus fund is set to take off to complement already ultra-loose monetary policy.
By the third quarter, economists at Goldman Sachs reckon euro-area output will be accelerating at an annualized pace of 13%. In contrast, they think U.S. growth will peak at 10.5% in the current quarter as the pace of vaccinations slows.
“The continent is…