Aligned stars point the way forward for reforms

The International Monetary Fund's recent World Economic Outlook and China's strong economic performance suggest that now is the time to advance reforms.

The World Economic Outlook highlights that the global recovery is gaining momentum, with growth now projected to reach 3.6 percent in 2017 and 3.7 percent in 2018. This is well above the 3.2 percent of 2016, when global growth was still faltering and financial markets were turbulent, and calls for policy action to secure the recovery.

The good news is that global acceleration is more broad-based than at any time since the start of this decade, as cyclical upswings accelerate in Europe, China, Japan, and the rest of emerging Asia. The United States is also growing above trend. This synchronized recovery offers a global window of opportunity for ambitious policies that will support growth and raise economic resilience.