Deep Dive
What were the key themes of the global economy in 2024?
The key themes of the global economy in 2024 were elections and policy shifts. Over 70 countries, representing 49% of the global population, held elections, leading to increased political polarization and a rise in right-wing populism. Policy shifts included central banks in 27 out of 37 major economies beginning to cut interest rates, marking a significant change from the previous tightening cycle.
How did the U.S. economy perform in 2024?
The U.S. economy grew by 2.8% in 2024, exceeding market expectations for the second consecutive year. This growth was driven by strong domestic demand, fueled by factors such as excess savings from the pandemic, pre-rate hike borrowing, and wealth effects from stock market gains. Corporate profits also surged, reaching their highest levels in 70 years.
What were the major challenges for China's economy in 2024?
China's economy faced challenges such as weak domestic demand, declining consumer confidence, and a contraction in the job market. The real estate sector continued to drag down investment, and the Producer Price Index (PPI) remained negative for over two years. Despite these issues, exports performed well, contributing significantly to GDP growth.
What was the state of Japan's economy in 2024?
Japan's economy showed modest growth of 0.3% in 2024, but it marked a turning point as the country finally achieved inflation after decades of deflation. The Bank of Japan began to exit its ultra-loose monetary policy, raising interest rates for the first time in eight years. Corporate profits and the stock market also improved, signaling a shift towards more sustainable economic growth.
How did Germany's economy fare in 2024?
Germany's economy contracted by 0.1% in 2024, continuing a trend of stagnation since the pandemic. The country faced structural issues such as an aging population, energy shortages, and a rigid fiscal policy. Despite these challenges, Germany avoided a technical recession, defined as two consecutive quarters of negative GDP growth.
What were the main drivers of India's economic growth in 2024?
India's economic growth in 2024 was primarily driven by domestic investment, particularly in infrastructure. The country's GDP grew by 7.0%, down from 8.2% in 2023, but still among the highest globally. However, inflation began to rise in the fourth quarter, posing a potential risk to future growth.
What was the impact of Russia's economic policies in 2024?
Russia's economy grew by 3.6% in 2024, despite Western sanctions. The government's aggressive fiscal stimulus and high energy prices supported growth. However, inflation and a sharp depreciation of the ruble in the fourth quarter created challenges, leading to a tightening of monetary policy with interest rates reaching 21%.
How did Argentina's economy perform under its new president in 2024?
Argentina's economy struggled in 2024, with GDP growth at the bottom of global rankings. The country implemented a radical economic reform known as 'shock therapy,' which included cutting government departments, halting subsidies, and reducing public spending. While these measures led to a government surplus and a reduction in inflation from 300% to 160%, they also caused significant economic contraction.
What were the key policy measures taken by China to stimulate its economy in 2024?
China implemented several measures to stimulate its economy in 2024, including lowering mortgage rates, issuing ultra-long-term special bonds, and increasing fiscal spending. The government also introduced policies to boost consumption, such as subsidies for home appliance upgrades and direct interventions in the real estate market through state-backed purchases of properties.
What was the global economic outlook for 2025?
The global economic outlook for 2025 is cautiously optimistic, with most economies expected to continue their recovery. Key uncertainties include the impact of U.S. trade policies under a potential Trump administration and the effectiveness of China's efforts to boost domestic consumption. Overall, the global economy is expected to shift from a period of tightening to one of renewed growth and leverage.
- 全球经济展现韧性
- 大选和政策转向是两大主题
- 多数央行降息
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