He said that the world economy was set to power ahead, with annual growth of about 5 per cent.

It was noted that the world economy was continuing to power ahead, with output rising at about 5 per cent a year.

Not that the world economy is a zero-sum game.

Over the past century and a bit, the world economy has lurched around the extremities of this trilemma.

Poor countries that integrated themselves into the world economy were able to industrialise rapidly.