IMF lifts 2023 growth forecast on China reopening, strength in U.S., Europe

13 Sept 06:41 Key points summarised by AI

The International Monetary Fund (IMF) slightly raised its 2023 global growth outlook to 2.9%, attributing the improvement to surprisingly resilient demand in the United States and Europe, easing energy costs, and China's economic reopening.
The U.S. and Eurozone saw upward revisions in their GDP forecasts due to stronger-than-expected consumption, robust labor markets, and quicker adaptation to higher energy costs, respectively, though the UK is predicted to face a recession.
China's 2023 growth forecast was sharply increased to 5.2% following the abandonment of its strict COVID-19 restrictions, with China and India collectively projected to drive over 50% of global growth this year.
While recession risks have subsided and central banks are making progress against inflation, the IMF cautions that further work is needed to curb prices, and new disruptions could emerge from the war in Ukraine or China's ongoing COVID-19 battle.

Examining Thailand’s four-part education revolution

Yesterday 14:22 Key points summarised by AI

Thailand's Education Ministry is implementing a four-pronged strategy to address its students' below-average performance in PISA 2025 and tackle significant educational inequality.
The plan prioritizes closing performance gaps by increasing funding for small and low-income schools, overhauling the curriculum to foster critical thinking, and adopting a data-driven management system to reduce teacher workload.
Key initiatives include enhancing school safety, combating cyberbullying, and expanding mental health support through peer-to-peer networks, recognizing the severe impact of distress on academic performance.
An education expert advises verifying if PISA improvements stem from structural changes, advocating for a revived STEM curriculum with practical 'learn by doing' methods, and urging bureaucratic reform to link teacher evaluations to student development.