Global Economic Outlook Is Dim, but Some Countries Provide Rays of Light, Economists Say

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The 2024 Tsinghua PBCSF Global Finance Forum in Hangzhou, Zhejiang province. Photo: Tsinghua Wudaokou Global Financial Forum

The global economy is going through a rough patch and may continue to do so for years, but not all countries are suffering equally, and there are solutions for those that are worse off, according to economists speaking at a forum in China Monday.

Post-Covid inflation, climate change and regional conflicts are among the multiple crises facing the world, said Andreas Dombret, a former German central banker, and Nouriel Roubini, a New York University economics professor, at the 2024 Tsinghua PBCSF Global Finance Forum in Hangzhou, Zhejiang province.

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Economists highlighted post-Covid challenges including inflation, climate change, and regional conflicts affecting global economic sentiment.
India and China may drive global economic growth, while technological advancements like AI could improve productivity in the long term.
Outlooks from IMF and World Bank predict stagnant or slowing global GDP growth, with concerns over high inflation and interest rates persisting.

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What Happened When

2024：: The Tsinghua PBCSF Global Finance Forum took place in Hangzhou, Zhejiang province, where economists discussed the global economic situation and potential solutions.

January 2024：: The World Bank estimated in a report that global GDP growth will slow to 2.4% in 2024, marking the third consecutive year of declines.

April 2024：: The International Monetary Fund released its outlook report, estimating that the global economy will grow 3.2% in 2024, flat with 2023.

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