This post reviews the most recent IMF World Economic Outlook, the benchmark outlook on the global economy. A three-tier world economy is emerging, with China and India leading the way, and advanced economies bringing up the rear. For countries with high debt and shrinking and ageing populations, export growth is the key. Looking at the last few and next few years in Europe, a gap has emerged between leading exporters, such as Germany & Ireland, and straggling exporters, predominantly in the Mediterranean.