Immigration a challenge for Europe
Following a temporary slowdown this year, global growth is expected to bounce back over the next two years. The US economy continues to expand, although the business cycle is starting to move into a more mature phase. As for China, we believe that the authorities will manage to steer the economy toward a soft landing. While the eurozone is slowly recovering, several important emerging economies should at least stabilise next year and beyond. In the Nordics, Sweden remains at the top of the growth league.Buoyed by the US and China, the global economy continues to expand, although at a