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Economy

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] Turkey and the West will engage in transactional cooperation wherever its interests dictate it, not joining Western sanctions on Moscow for the war in Ukraine and seeking economically profitable relationships. Bangkok Post
  • [New] PMI's Talent Gap predicts an increase in the number of jobs requiring project management-oriented skills from higher demand due to economic growth and retirement rates. THISDAY LIVE
  • [New] The U.S. being unable to fulfill financial obligations would put millions of jobs at risk, increase unemployment levels and lead to higher prices for everyday items. ABC News
  • [New] Building the resilience of rice markets is key to ensuring food security amid increasing prices and climate risks in Asia and the Pacific. ReliefWeb
  • [New] The Regional Comprehensive Economic Partnership, the world's largest free trade agreement, will boost intraregional trade integration through lower tariffs and will accelerate the recovery and long-term growth and prosperity of the global economy. Malaysia Sun
  • [New] 2023's farm bill will be particularly tricky given the massive economic changes over the last four years, including Covid, inflation, a trade war with China and the war in Ukraine. Politico
  • [New] The Asia-Pacific region has always been the region with the most growth vitality, development potential and economic resilience in the global economy, but economic and trade development still faces many disturbances and challenges. Reuters
  • [New] The State Farm General Insurance Company will no longer accept new applications for property insurance and other policies in California, citing historic increases in construction costs and inflation. New York Post
  • [New] Norway experienced strong growth both in home prices and household debt levels, posing a threat to financial stability. CEPR
  • [New] India has a lot of potential for the economic relationship to grow in the future, but in some ways it's been too little too late to catch up with China. Voice of America (VOA News)
  • [New] The insurance giant State Farm, America's biggest car and home insurer by premium volume, will halt the sale of new home insurance policies in California, citing wildfire risk and inflation of construction costs. The Guardian
  • [New] Reducing investments in climate resilience, cutting new funding for the Internal Revenue Service, and expanding work requirements for government program eligibility could drag down economic growth and create an even larger intergenerational burden. Fortune
  • [New] The political brinkmanship over the US debt ceiling could lead to policy uncertainty and weaken economic confidence. The Deep Dive
  • [New] Arbitrarily denying financial services to Palestinians in the West Bank and Gaza infringes upon Palestinians' ability to engage in online commerce, limiting opportunities for economic growth and empowerment. Truthout
  • [New] The UK economy could be in recession in 2024 as stubbornly high inflation pushes interest rates to more than 5% before the next general election. The Guardian
  • [New] The United States, the world's largest economy and most important borrower, still has not reached an agreement to keep borrowing by raising the debt ceiling, raising the risk. Morgan Stanley
  • [New] The impact of a US debt default could cascade across the globe, extending far beyond economic consequences. Observer Research Foundation
  • [New] With financial services estimated at around 25% of the global economy, there is an opportunity for the financial services industry to lead the AI industrial revolution. DataDrivenInvestor
  • [New] Tackling inflation, the debt crisis, and supply chains are part of what G7 Leaders in Hiroshima will address - but climate finance is also a crucial pillar to economic security. Transport Times
  • [New] The U.S. has responded to the economic threat posed by China by attempting to repatriate strategically important supply chains using subsidies and tax breaks and taking a more aggressive approach to Chinese investment. Winston & Strawn
  • [New] National measures, led by the United States and Japan, to increase economic security have produced added tensions with some non-aligned countries that fear they and their companies will be adversely affected. The Mainichi

Last updated: 30 May 2023


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