As geopolitical tensions rise and interest rates remain at elevated levels, 2024 will be another turbulent year for the global economy. This is especially true for emerging markets, which managed to avoid the crisis in 2023, but may find it difficult to do so again if global growth does not live up to expectations.
In 2023, the world economy was full of surprises. Despite the sharp rise in interest rates, the US successfully avoided recession, and the major developing countries did not fall into a debt crisis. Even Japan’s geriatric economy showed surprising vitality. In contrast, the European Union is lagging behind as Germany’s economic growth engine shrunk after China’s four-decade era of hyper-growth came to an abrupt end.
Looking ahead to 2024, several questions arise, such as what will happen to long-term, inflation-adjusted interest rates?
2024-01-13 22:02:00
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