CNN (May 1)
“Another day, another piece of evidence that President Donald Trump’s escalating trade war with friends and foes is hurting the global economy. Today: Japan’s central bank cut its economic growth forecast for the country in half.” The Bank of Japan “lowered its expectations for 2025 gross domestic product growth to an anemic 0.5%, down from the previous projection of +1.1%, made in January.”
Tags: 0.5%, 2025, Anemic, BOJ, Economic growth, Escalating, Evidence, Expectations, Foes, Forecast, Friends, GDP, Global economy, Hurting, Japan, Trade war, Trump
Reuters (March 18)
Top banking heads in Australia believe the Trump administration’s “protectionist policies would likely strain the global economy in the medium term with higher costs and lack of certainty.” However, they believe Australia is “better placed than Canada, which sells 85% of its exports to the U.S.” In contrast, Australia’s U.S. exports are, “small compared to its overall export trade,” amounting annually to only about $15 billion.
Tags: $15 billion, Australia, Banking, Canada, Certainty, Exports, Global economy, Higher costs, Protectionist policies, Strain, Trade, Trump administration
Bloomberg (January 26)
“Oil fell as President Donald Trump imposed his first set of sanctions and tariffs in a move that highlighted risks to the global economy and to trade.” U.S. tariffs and other sanctions have now been imposed on Columbia, and the Trump “administration has also threatened actions on flows of goods from a host of other nations, including Canada and China.” On top of that economic uncertainty, Trump is advocating for “OPEC to bring down prices, potentially raising the pressure on Russia to end the war in Ukraine.”
Tags: Canada, China, Columbia, Global economy, Oil, OPEC, Prices, Risks, Russia, Sanctions, Tariffs, Threat, Trade, Trump, U.S., Uncertainty, War
Bloomberg (October 21)
“The global economy is heading toward year end with unexpected tailwinds as slowing inflation clears a path for an unlikely soft landing. But while the economics side of the equation is looking up, political hurdles lie ahead.” The biggest hurdle may be the U.S. election. “The resilience of the world’s major economies is about to be tested” if Trump is elected and institutes his tariff program.
Tags: Economics, Election, Global economy, Inflation, Major economies, Political hurdles, Resilience, Soft landing, Tailwinds, Trump, U.S., Unexpected
Washington Post (January 9)
“After rebounding sharply in 2021 from the depths of the pandemic, the global economy grew by 3 percent in 2022, dipped to a 2.6 percent rate last year and is expected to post a tepid 2.4 percent this year” according to the World Bank. “Those rates lag the 3.1 percent average for the decade of the 2010s.”
Tags: 2.4%, 2.6%, 2010s, 2021, 2022, 3.1%, 3%, Global economy, Lag, Pandemic, Rebounding, Tepid, World Bank
Council on Foreign Relations (December 27)
Development and deployment of artificial intelligence (AI) continues to proceed at an exponential rate. Its rise “could mirror previous technological revolutions, adding billions of dollars worth of productivity to the global economy while introducing a slew of new risks that could upend the global geopolitical order and the nature of society itself. Managing these risks will be essential, and a global debate over AI governance is raging as major powers such as the United States, China, and European Union (EU) take increasingly divergent approaches toward regulating the technology.”
Tags: AI, China, Deployment, Development, Divergent, EU, Exponential, Geopolitical order, Global economy, Governance, Productivity, Risks, Society, Technological revolutions, U.S.
New York Times (November 1)
“After shocks from the pandemic and Russia’s invasion of Ukraine, there’s little cushion if the fighting between Hamas and Israel becomes a regional conflict.” An escalation would cloud “the global economy’s outlook, threatening to dampen growth and reignite a rise in energy and food prices.” An escalation would also mark the first time the world has dealt with two simultaneous energy shocks.
Tags: Energy, Escalation, Fighting, Food, Global economy, Hamas, Invasion, Israel, Outlook, Pandemic, Regional conflict, Russia, Shocks, Ukraine
Investing.com (July 2)
“Oil prices settled down 1% on Monday as worries about a slowing global economy and possible U.S. interest-rate hikes outweighed supply cuts announced for August by top exporters Saudi Arabia and Russia.”
Tags: August, Down, Exporters, Global economy, Interest rate hikes, Oil prices, Russia, Saudi Arabia, Supply cuts, U.S., Worries. Slowing
New York Times (June 19)
“China’s economic weakness holds benefits and dangers for the global economy. Consumer and producer prices have fallen for the past four months in China, putting a brake on inflation in the West by pushing down the cost of imports from China. But weak demand in China may exacerbate a global slowdown. “
Tags: Benefits, China, Consumer, Dangers, Demand, Global economy, Imports, Inflation, Producer prices, Weakness, West
Wall Street Journal (June 16)
“In just 24 hours this past week the central banks of the world’s three biggest economic blocs came to starkly different conclusions, with the eurozone raising rates, the U.S. on hold and the Chinese cutting. It’s getting harder for investors to understand the global economy—and potentially getting harder for the Federal Reserve to put a lid on inflation.”
Tags: Biggest, Central banks, China, Conclusions, Cutting, Different, eurozone, Fed, Global economy, Hold, Inflation, Investors, Raising, Rates, U.S.
