Global Economy Set for Weakest Half-Decade Performance in 30 Years

January 9, 2024--Reforms to boost investment and strengthen fiscal policy could help turn the tide
As the world nears the midpoint of what was intended to be a transformative decade for development, the global economy is set to rack up a sorry record by the end of 2024-the slowest half-decade of GDP growth in 30 years, according to the World Bank's latest Global Economic Prospects report.

By one measure, the global economy is in a better place than it was a year ago: the risk of a global recession has receded, largely because of the strength of the U.S. economy. But mounting geopolitical tensions could create fresh near-term hazards for the world economy.

Meanwhile, the medium-term outlook has darkened for many developing economies amid slowing growth in most major economies, sluggish global trade, and the tightest financial conditions in decades. Global trade growth in 2024 is expected to be only half the average in the decade before the pandemic . Meanwhile, borrowing costs for developing economies-especially those with poor credit ratings-are likely to remain steep with global interest rates stuck at four-decade highs in inflation-adjusted terms.

China stimulus unleashes ETF buying spree in US and Europe

October 10, 2024-A scramble for Chinese equities united the global investment industry last month, just as attitudes towards European and Japanese stock markets became heavily bifurcated along geographical lines.