"Heartbreaks, disappointments and even our own weaknesses can serve as stepping-stones to the second half of life transformation. Failings are the foundation for growth. Those who have fallen, failed or 'gone down' are the only ones who understand 'up.'"

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Year after year, we have had to explain from mid-year onwards why the global growth rate has been lower than predicted as little as two quarters back. This pattern of disappointment and downward revision sets up the first, and the basic, challenge on the list of issues policymakers face in moving ahead: restoring growth, if that is possible.

— Stanley Fischer