World economy seen picking up

BOSTON, April 18 (UPI) -- Strong business activity in Asia and the United States is reportedly leading a revival of the global economy, which could grow 4 percent this year.

The Christian Science Monitor said Sunday some experts believe the rate could go even higher because of the strength in consumer demand that is being sparked by low interest rates.

Nut the Monitor said there are some potential clouds on the horizon -- high oil prices and the risk of inflation.

This year, the newspaper noted, will see a realignment of economic power on the global stage with the expansion of the European Community to embrace nations that had once been part of the Eastern bloc.

As of May 1, 70 million people in 10 countries will be added to the EC, making that union about the same size as the United States.

Of three experts interviewed by the Monitor, the most optimistic forecast for world economy growth was 4.75 by Michael Mussa, a former chief economist for the International Monetary Fund. He predicted this year's results would be "the strongest performance in a generation."

At the low side, forecasting a 3.5 percent growth rate was Nariman Behravesh, chief economist for Global Insights in Waltham, Mass.