Decent Work and Growth

In September 2015, 193 world leaders agreed to 17 Global Goals for Sustainable Development. If these Goals are completed, it would mean an end to extreme poverty, inequality and climate change by 2030.
Goal 9: Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.

[New] Global growth will be aided by a recovery in 2021 to GDP growth of 3.5% in the United States and an even bigger 7.9% rebound in China, the world's two biggest economies.
[New] The Chinese economy is expected to expand by nearly eight percent in 2021, after two percent growth in 2020, while US GDP is projected to gain 3.5% - a half point lower than the June forecast.
[New] India is expected to go on to deliver GDP growth of 11.9% by the first quarter of 2022, far higher than pre-Pandemic levels.
[New] China will reach 8.2% growth in 2021, after becoming the only major economy to show positive growth in 2020.
[New] Growth in Sub-Saharan Africa was forecast to rebound moderately to 2.7% in 2021, while Nigeria's growth was expected to resume at 1.1%.
[New] Among oil exporters, growth is expected to recover to 1.8% in 2021, supported by normalising oil demand, the scheduled easing of the OPEC + oil production cuts, policy support, and the gradual phasing out of domestic pandemic-related restrictions.
[New] After contracting about 9% in 2021, the euro zone's second-biggest economy will post growth around 5% in 2021 and 2022 before easing to slightly more than 2% in 2023, the Bank of France forecast in its quarterly outlook.
[New] Most nickel growth in the next 5-10 years will come from Indonesia, where new plants are proposing deep-sea tailings disposal.
[New] In the IEA's annual World Energy Outlook 2020, which it released in late October to provide an outlook through 2040, coal's share in energy demand could dip below 20% for the first time in modern energy history while renewables are predicted to meet 90% of strong growth in global electricity demand.
[New] The Office for Budget Responsibility expects the UK economy to grow by 5.5% in 2021, which would be its strongest rate of growth since the late 1980s.
[New] The Bank of Israel Research Department revised its growth forecast for the coming two years, and estimates that the contraction of GDP in 2020 will be about 3.7%.
[New] We can expect rapid growth during 2021 - with further Compacts in Indonesia, Vietnam, India, Brazil, Colombia, Liberia and Cameroon waiting to come on board; and a significant number of new commodities to be added.
[New] China's skillful management of Covid-19 would boost its relative growth compared to the US and Europe in coming years, and China will overtake the US to become the world's largest economy by 2028, five years earlier than previously forecast.
[New] After recording modest growth of 1.9% in 2020, China's economy is expected to grow by 8.2% in 2021 and will undoubtedly lead the world economy in 2021.
[New] The rapid growth of mobile internet is expected to continue, with the World Bank aiming to achieve universal affordable and good quality broadband access in Africa by 2030.
[New] Global gas demand is expected to resume growth in 2022.
[New] China, for its part, already returned to economic growth last year and is forecast to enjoy a return to moderately strong GDP growth in 2021.
[New] Despite the fallout expected from its split with the UK over coming year, the Eurozone's restored ties with the US under a friendlier Biden Administration could further boost its growth prospects.
[New] China Leading Asia Bulls: As the only major economy to boast an economic expansion in 2020, we expect China to lead robust growth in Asia in 2021.
[New] The downside scenario of a delayed vaccine rollout globally features a much weaker and more protracted recovery, with regional growth limited to 0.6% in 2021 and 4.7% on average in 2021-22 (figure 2.1.3.
[New] Barclays UK Property Predictor puts London as the top region for growth over the next 5 years with an expected average annual increase of 2.27%.
[New] Oil demand is not expected to return to 2019 levels until the end of 2021 or early 2022, with future growth to be much more modest than the 2 million b/d growth rates of the past.

Last updated: 10 January 2021

Decent Work and Growth

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