Blackstone Advisory Partners vice chairman Byron Wien has been making his annual predictions for what's ahead in the markets and world economy since 1986

Blackstone Advisory Partners vice chairman Byron Wien has been making his annual predictions for what's ahead in the markets and world economy since 1986. His predictions include: 1) a sharp correction of more than 10 per cent then a move to new highs as the S&P500 approaches a 20 per cent total return for the year. 2) US economic growth exceeds 3 per cent and the unemployment rate moves further toward 6 per cent. Fed tapering proves to be a non-event. 3) The US dollar strengthens against its major trading partners, climbing to $US1.25 against the euro (now trading at $US1.36) and buying 120 yen (now buying 104 yen). 4) The Nikkei 225 rises to 18,000 early in the year - followed by a 20 per cent correction. 5) Chinese economic growth slows to 6 per cent in 2014 and mainland-traded equities have another disappointing year. (VIEW LINK)