The Predicament and Outlet of Global Economic Growth

The outbreak of financial crisis indicated that the disequilibrium of global real economy is unsustainable. In the decade after the crisis, many structural contradictions at the global, regional and national levels continued to deepen, casting a shadow on the global economic outlook. With the economic recovery falling into hesitation, the global economy is increasingly characterized as japanazation. Low growth, low interest rate and low inflation have become a puzzle for governments around the world. Under the theoretical framework of global economic growth, through the analysis of bottlenecks and the study of prospects, the failure of slow global economic stimulus and recovery come from the deterioration of supply side structure, the lack of endogenous demand and the drag of international trade and financial system on potential growth. In order to prevent the economy from falling into recession, compared with Keynesian monetary policy and fiscal policy stimulus, structural reform at the global level is more important. Governments around the world need to break policy stereotypes and seek policy coordination and global governance actively, so the global economy can usher in a new opportunity after the trek.