The global economy enters 2027 with a paradox: output continues to expand, but the foundations supporting that expansion are becoming more fragile. Forecasts for 2026 place global growth between 2.5% and 3%, with the International Monetary Fund projecting 3%, the OECD 2.9% and the World Bank 2.5%. The central question is whether policymakers can manage the pressures beneath the headline growth rate. That distinction should guide every serious risk assessment. [...]