global economy Archives

The Outlook for the Global Economy in 2024

November 29, 2023November 29, 2023 Business

The global economy is expected to experience a slowdown in 2024 due to factors such as wars, high inflation, and high interest rates. The OECD projects international growth to decline to 2.7% in 2024, marking the slowest year of growth since the onset of the COVID-19 pandemic. While the risks of recessions are expected to be avoided, concerns remain regarding persistently high inflation and the impact of geopolitical tensions on commodity prices. The slowdown is influenced by the deceleration of the US and China, the two largest economies, as well as factors affecting the Eurozone. Despite the challenges faced since 2020, economic expansion has proven resilient. However, the OECD warns that economic growth is now moderating, driven by tighter financial conditions, weak trade growth, and low business and consumer confidence.

Rising Youth Unemployment in China Threatens Economy and International Relations

October 29, 2023November 22, 2023 Business

The rising youth unemployment rate in China, reaching a record high of 21%, poses significant challenges for the country’s economy and could have implications for the global economy. A major mismatch between job openings and the career aspirations of Chinese youth is contributing to the problem. This issue could strain the US economy, as it heavily relies on China for goods and services. Furthermore, a prolonged youth unemployment crisis in China could lead to civil unrest, political issues, and destabilize trade and supply chains. It is crucial for the Chinese government to take immediate action to address this crisis and secure the country’s economic future.