Global economy – Bhartiyanews24x7

16Jul

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IMF maintains 2024 global growth forecast, warns of inflation risk

“Global activity and world trade firmed up at the turn of the year, with trade spurred by strong exports from Asia,” the IMF said. Image for representation. | Photo Credit: AP The International Monetary Fund (IMF) held global growth expectations for 2024 steady in a report on July 16 even as it cut forecasts for the United States and Japan, while warning of inflation risks and trade tensions ahead.The IMF expects the world economy to grow 3.2% this year, unchanged from its April forecast, according to its World Economic Outlook update."Global activity and world trade firmed up at the turn of the year, with trade spurred by strong exports from Asia," said the fund.For 2025, it expects global growth of 3.3%.But even as many countries saw better growth than anticipated early this year, th...

‘Why India will become a superpower by 2047’ | India News – Times of India

Global brokerage Morgan Stanley, in its 'The New India: Why this is India's decade' report, said that the country is poised for an economic boom in the coming years, driven by factors such as offshoring, manufacturing investments, energy transition, and advanced digital infrastructure. These drivers are expected to propel India to become the world's third-largest economy and stock market by 2030.As per the report, the global economy is being rewired for a multipolar world, influenced by geopolitical events like US-China trade tensions, Russia's invasion of Ukraine, and the cost of sanctions.The pandemic has also shifted the focus from "just in time" to "just in case" logistics. These factors have accelerated the move towards "slowbalization" and a multipolar world."The Indian government...

In veiled dig at China, Jaishankar bats for more production centres, says need ‘trust & transparency’

New Delhi: In a veiled taunt at China, External Affairs Minister S. Jaishankar stressed Friday the importance of “de-risking” the global economy by promoting more centres of production.In a video address for an event in Japan, Jaishankar said this would ensure a more resilient and reliable supply chain and enhance “trust and transparency” in the digital domain. In recent years, the US and European countries have increasingly debated de-risking and decoupling from China’s economy and this March, the EU Parliament published recommendations on how to do so. Show Full Article Meanwhile, the Biden administration continues to slap restrictions on Beijing, the latest being the introduction of heavy tariffs on Chinese electric vehicles and ...