Global Scans · Economy · Weekly Summary

DRIVER: The global economy still faces serious headwinds and political uncertainty potentially balanced by the enormous promise of technological advancements in many fields. Read on to get a solid handle on the opportunities and risks you and your organization may likely face and set your sails accordingly.

  • [New] The food sector has faced unprecedented challenges in recent years and will continue to do so as climate change takes its toll on food production.
  • [New] Hydrocarbon GDP growth is expected to increase this year, including on higher crude oil production from the UAE's OPEC + quota increase. Mirage News
  • [New] With extensive integration between government and private investments, Malaysia became the cradle of technical innovations for oil palm production, where continuous expansion of production was envisioned. Oxford Research Encyclopedia of Environmental Science
  • [New] Demographic Dividend: India's young population and low dependency ratio will persist for the next 30 years, offering a significant advantage in terms of labour force and consumption. EDUREV.IN
  • [New] Nirmala Sitharaman stated that India's demographic dividend, characterised by the lowest dependency ratio, will boost consumption and create investment opportunities worth trillions of dollars. EDUREV.IN
  • [New] Spot gold rallied sharply on Friday as traders looked past hotter than expected US inflation data to focus on possible rate cuts as the US economy, going by recent key macroeconomic data, is weakening. Economic Times
  • [New] What we do know is that the UK might need more tax revenue to control the impact on inflation of the additional government spending that is now required to meet the demand for government services. Funding the Future
  • [New] AB - Universal Credit is a major change in the UK's social security system which will affect around eight million households by replacing six existing means-tested benefits and tax credits with a single benefit, based on income, assets and circumstances, and paid monthly. the University of Bath's research portal
  • [New] Western countries must recognize the value of strategic foresight and competitive markets, learning from China's example if they hope to remain relevant in the rapidly evolving global economy. Blitz
  • [New] A new bill in Congress aimed at slashing tax credits for electric vehicles could significantly impede their production in the United States. The Cool Down
  • [New] The source of income used for the distribution of dividends comes from companies with relatively stable income and slow growth (food products, telecommunications, infrastructure), so we can expect slow and steady growth of dividends in line with the growth of south Asian economies and inflation. Seeking Alpha
  • [New] The EU is accelerating its wind energy deployment, while in the US, federal incentives like the Inflation Reduction Act have bolstered wind energy investments, particularly in offshore wind, which is poised for substantial growth with the expected completion of new large-scale projects. ThePrint
  • [New] The trustees project that Medicare Part D will see a reduction in point-of-sale drug costs by 7%, aggregate drug prices by 19%, and plan benefits by 7% from 2024 to 2033. American Action Forum
  • [New] Economic downturns or political instability in key markets could disrupt supply chains, increase costs, or reduce consumer spending, adversely affecting Logitech's financial performance. Yahoo Finance
  • [New] A downturn in the global economy could weigh on demand and limit the precious metal's gains. FXStreet
  • [New] We can expect to see Gen AI revolutionizing Indian businesses across sectors and unlocking new avenues for growth and significantly increasing productivity. Techcircle
  • [New] A shift in Asia's trade and investment patterns could result in a corresponding shift in some Asian economies' geopolitical alignment between the US and China. Asia Economic Monthly: China taps Asian demand
  • [New] Costs from higher imports, such as jobs and production losses, may start to outweigh the benefits of cheaper goods, risking a protectionist backlash from some Asian countries. Asia Economic Monthly: China taps Asian demand
  • [New] As the lowest cost imported sugar product into China (thanks to the lack of import tariff), there's no reason to expect a decline in liquid sugar imports in 2023/24. Czapp
  • [New] While enhanced policy support is expected to boost investments in public infrastructure and strategic sectors, the property sector poses a significant downside risk to the Chinese economy. Economic Times
  • The economic consequences of the succession of crises of recent years will be more visible in 2024: economic growth will be weak, and China's downturn will reverberate in emerging economies, in a climate of rapid tightening of financial conditions and a strong dollar. CIDOB

Last updated: 21 May 2024

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