It looks like we are stuck in a multi-low-speed world: global growth is expected to slow down marginally to +2.5% in 2016, after +2.6% last year.

Advanced economies will grow moderately (+1.8% in 2016) while emerging markets need more time to bottom-out (+3.6%, a new record low since 2009).

As a result, 70% of global GDP will be slowing down or in recession and our Global Insolvency Index is expected to increase by +2% in both 2016 and 2017, the first rise since 2009.

Why is global growth disappointing? Because of the FLOP(s), these bottlenecks which asphyxiate growth: subdued trade and investment Flows � and antsy capital ones; segregated Liquidity with horns of plenty

and drought-prone asset classes; low for longer Oil and commodity prices triggering unwanted second-round effects; hesitant and uncoordinated Public Policies; and possible downside Surprises