Editor’s Page: The Economic Outlook — 2008 and Beyond  

As 2007 draws to a close, the usual year-end flurry of economic analysis is hitting consumer and trade press alike. For this magazine’s global audience, the bottom line depends on where you’re standing and whether you’re looking back or forward. Looking back, "We have just come off of four years (2003 – 2006) of very strong global economic growth," Dr. Thomas K. Swift, chief economist and managing director, economics and statistics for the American Chemistry Council (Arlington, Va.; www.americanchemistry.org) told Chemical Engineering in an exclusive interview during last month’s Chem Show. "This is the first time since the early 1970s there have been four strong years in a row; every piston of the economic engine was running," he adds. The peak year for economic growth was probably last year in the U.S., says Swift, and this year for some other regions. Growth in Western Europe, especially Germany is very strong. Japan has sustainable, but decelerating growth. China’s boom continues apace despite efforts to curtail investment. Growth elsewhere in Asia and emerging Europe remains strong. With a commodity boom, Latin America, Africa and the Middle East are buoyant, but with risks. Last…