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A year ago, with the election of a U.S. president who had fulminated against the international trade and financial systems, some analysts worried that the engine of global prosperity might soon be sputtering. But that's not what happened.The global economy has surged forward this year, significantly outperforming expectations. The IMF revised upward its forecast for the global economy, predicting 3.6 percent growth this year and 3.7 percent in 2018, powered by surging activity in Europe, Japan, China and America. The U.S. will grow more slowly, at 2.2 percent this year and 2.3 percent in 2018, but that's better than 2016's anemic 1.5 percent.Emerging economies, generally, are thriving: Goldman forecasts that India will grow 8 percent next year, 1.5 points faster than China, and that emerging markets as a group will grow at 5.6 percent.The IMF said growth would fall this year to 1.7 percent (the IMF was predicting 2 percent back in April) and to 1.5 percent next year.
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