It has been a turbulent few months for the markets, led by China’s economic rebalancing.
But with all the talk of Asia’s slowing growth, it’s easy to forget about two of the other big drags on the global economic outlook – Brazil and Russia.
HSBC put together a few handy maps to illustrate how the world is doing.
Admittedly, Brazil and Russia have large landmasses so may look disproportionately bad in bright red. But they are also the largest two of only a handful of economies to experience negative growth.
Here’s the map of gross-domestic-product growth:
HSBC
Brazil contracted 2.6% in the past year, while Russia’s economy shrank by 4.6%.
The two countries have also been the hardest hit by inflation out of the big global economies. Russia’s inflation rate is up at 15.6% (coupled with an 11% interest rate), while Brazil’s inflation is over 9%.
Here’s the inflation map:
HSBC
HSBC
But perhaps even more worrying for Russia is the country’s demographic problem. Russia’s working-age population growth is expected to stay stagnant while accelerating in the rest of the world.
HSBC
This article is published in collaboration with Business Insider. Publication does not imply endorsement of views by the World Economic Forum.
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Author: Ben Moshinsky is a senior finance reporter, covering markets and banks.
Image: Employees work on the assembly line at the Renault plant in Sao Jose dos Pinhais. REUTERS/Rodolfo Buhrer
