File - In this Wednesday, Nov. 9, 2016 file photo, a broker reacts as U.S. President-elect Donald Trump appears on a television screen at the stock market in Frankfurt, Germany. (AP Photo/Michael Probst)
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2016 was the year when globalization, the path that the world economy has largely followed for decades, took some hefty blows.Trump and Brexit were just two of the year's top stories in the world of business.TRUMP CARDPollsters and bookmakers got it wrong again a few months later when Trump defeated Hillary Clinton in the presidential election. Whether he translates his "America First" platform into action following his inauguration in January will help shape the global economy for the next four years at least. With the U.S. economy continuing to do better than most developed countries, unemployment below 5 percent, and inflation on the way up, the Fed finally delivered another hike.The question for 2017 is whether OPEC – and non-OPEC – countries can deliver on their production promises. If they do and higher oil prices stick, that will push up inflation in the global economy.
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