The April 2011 edition of the World Economic Outlook assesses the global prospects for economic growth in the face of policy challenges that remain unaddressed and new challenges now coming to the fore. In advanced economies, the resurgence of private demand has reduced concerns that diminishing fiscal policy support might cause a "double dip" recession. But unemployment remains high, and, although financial conditions continue to improve, they remain unusually vulnerable. In many emerging market economies, demand is robust and overheating is a growing policy concern. Rising food and commodities prices present new risks to the global economy, and two chapters directly explore these new challenges. Chapter 3 reviews the potential impact of oil scarcity on global growth, and Chapter 4 explores the potential response of international capital flows to changes in the global macroeconomic environment.
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