News
7x24
Quotes
Economics Calendar
Video
Data
- Names
- Latest
- Prev.
Columns
Trending Topics
Russia-Ukraine Conflict
The war between Russia and Ukraine continues, and it is difficult for the two sides to reach an agreement in negotiations. Western countries have imposed several rounds of sanctions on Russia. The outlook is unpredictable.
The Fed
The Federal Reserve (Fed), or the central bank of the United States, is responsible for regulating the U.S. monetary policy and interest rates. As a provider of liquidity for world trade, the Fed is also known as the world's central bank. Its every move affects the global economy and financial markets.
China-U.S. Relations
Focus on Pelosi's Taiwan Visit ! How will China-U.S. relations develop in the future, win-win cooperation or confrontation?
FastBull Spotlights
Pick the most insightful news around the world for you!
Video
Latest Update
Full Course: How to Optimize Your Strategy With Ai that Boost Your Trading Performance?
How did I optimize the supertrend strategy from TradingView and made 20x gain using Machine Learning Decision Tree?
Full Course: Beginner’s Guide to Develop a Robust Deep-Learning Ai for Stock or Crypto Trading
This is the Guide on how to Develop a Robust Deep-Learning Ai for cryptocurrency investing for beginners, explaining the use of recurrent neural networks (RNN) for price changes and a linear layer for technical indicators, and presents a code snippet for building the AI model using PyTorch.
How to customize your own indicators and get over 2x of your asset returns?
An example of a customized indicator strategy that significantly increased BTC returns during a long bullish trend is presented, want to know the backtest results and codes of the strategy?
PEPE Has Surged Over 7000% Max In 1-Month! Buy It or Sell It?
PEPEcoin gained over 7000% in 1-month and surged to over 1.6 billion dollar market cap. Is there still a chance to buy from the technical indicators?
Recent Searches
Trending Searches
View All
No data
Invite
Global Economic Growth to Slump to Three-Decade Low by 2030, World Bank Says
Summary:
World economy to hit 'speed limit' — the maximum long-term rate at which it can grow without sparking inflation — amid banking crises and recessions.
The global economy is set to reach its “speed limit” — the maximum long-term rate at which it can grow without risking excess inflation — and slump to a three-decade low by 2030, according to the World Bank.
Systemic banking crises and recessions are expected to have lasting effects on the world's economic growth and development.
Between 2022 and 2030, the average global potential gross domestic product growth is predicted to decline to 2.2 per cent a year, down by about a third from the 3.5 per cent growth rate during the first decade of this century, the Washington-based lender said in its latest report on Monday.
For developing economies, the decline will be equally steep, dropping to 4 per cent annually over the remainder of this decade from 6 per cent a year between 2000 and 2010.
These declines will be much steeper if these countries face a global financial crisis or a recession, the multilateral lender warned.
“A lost decade could be in the making for the global economy,” said Indermit Gill, the World Bank’s chief economist and senior vice president for development economics.
“The ongoing decline in potential growth has serious implications for the world’s ability to tackle the expanding array of challenges unique to our times — stubborn poverty, diverging incomes and climate change.
The warning comes amid a tough macroeconomic climate as banking crises in the US and Switzerland and the pivot to higher interest rates to fight inflation have increased risks to financial stability, according to the International Monetary Fund.
High inflation, the impact of the Ukraine-Russia war and elevated global debt levels continue to pose risks for the global economy.
However, the long-term global economic decline expected by the World Bank is reversible, it said.
“The global economy’s speed limit can be raised — through policies that incentivise work, increase productivity and accelerate investment,” Mr Gill said.
An ambitious policy push is needed to boost productivity, increase the labour supply, ramp up investment and trade, and harness the potential of the services sector, the World Bank report said.
Potential GDP growth can be increased by as much as 0.7 percentage points — to an annual average rate of 2.9 per cent — if countries adopt sustainable and growth-orientated policies, it said.
This would convert an expected slowdown into an acceleration of global potential GDP growth.
“We owe it to future generations to formulate policies that can deliver robust, sustainable and inclusive growth,” said Ayhan Kose, lead author of the report and director of the World Bank’s prospects group.
“A bold and collective policy push must be made now to rejuvenate growth. At the national level, each developing economy will need to repeat its best 10-year record across a range of policies. At the international level, the policy response requires stronger global co-operation and a re-energised push to mobilise private capital.”
“An extraordinary series of setbacks has brought the world to another crossroads. It will take an exceptional mix of focused policies and effective international co-operation to revive growth,” David Malpass, the World Bank's President, said in the report's foreword.
The report highlighted specific policy actions at the national level to help boost long-term growth prospects.
First, it recommended that countries align their monetary, fiscal and financial policies to moderate the ups and downs of business cycles. Policymakers should prioritise taming inflation, ensuring the stability of the financial sector, reducing debt, and restoring fiscal prudence. This can help countries attract investment by boosting investor confidence in national institutions and policies, the report said.
Secondly, it urged countries to ramp up investment in areas such as transportation, energy, climate-friendly agriculture, manufacturing and land and water systems. Investments aligned with key climate goals could improve potential growth by up to 0.3 percentage points per year and strengthen resilience to natural disasters in the future, it said.
Thirdly, countries should slash trade costs — mostly related to shipping, logistics and regulations — which can double the cost of internationally-traded goods today. Countries with the highest shipping and logistics costs could cut their trade costs in half by adopting trade-facilitation measures, the World Bank said. It added that trade costs can be reduced in climate-friendly ways — by removing the current bias towards carbon-intensive goods found in many countries’ tariff schedules and by removing restrictions on access to environmentally-friendly goods and services.
Fourthly, nations must consider capitalising on the services sector, which could become the new engine of economic growth. Exports of digitally-delivered professional services related to information and communications technology climbed to more than 50 per cent of total services exports in 2021, from 40 per cent in 2019. The shift could generate important productivity gains if it results in better delivery of services, the lender said.
Finally, countries should aim to increase labour force participation: About half of the expected slowdown in potential GDP growth through 2030 will be due to changing demographics — including a shrinking working-age population and declining labour force participation as societies age.
Boosting overall labour force participation rates could increase global potential growth rates by as much as 0.2 percentage point a year by 2030, the report said.
In some regions — such as South Asia and the Middle East and North Africa — increasing female labour force participation rates to the average for all emerging market and developing economies could accelerate GDP growth by as much as 1.2 percentage points a year between 2022 and 2030, the World Bank said.
Source: The National News
Risk Warnings and Investment Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.
Quick Access to 7x24
Quick Access to More Editor-selected Real-time News
Exclusive video for free
FastBull project team is dedicated to create exclusive videos
Real-time Quotes
View more faster market quotes
More comprehensive macro data and economic indicators
Members have access to entire historical data, guests can only view the last 4 years
Member-only Database
Comprehensive forex, commodity, and equity market data
- Economics Calendar
- Events
- Holiday
BANKS ACT (%) PREV (%) CPI (%)
SYMBOL
LONG SHORT
English
English
العربية
繁體中文
简体中文
Bahasa Melayu
Bahasa Indonesia
ภาษาไทย
Tiếng Việt
Copyright © 2023 FastBull Ltd
Home News Columns 7x24 Economics Calendar Quotes Video Data WarehouseAnalysis AI Signal Pro User Agreement Privacy Policy About Us
Risk Disclosure
The risk of loss in trading financial assets such as stocks, FX, commodities, futures, bonds, ETFs or crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No consideration to invest should be made without thoroughly conduct your own due diligence, or consult with your financial advisors. Our web content might not suit you, since we have not known your financial condition and investment needs. It is possible that our financial information might have latency or contains inaccuracy, so you should be fully responsible for any of your transactions and investment decisions. The company will not be responsible for your capital lost.
Without getting the permission from the website, you are not allow to copy the website graphics, texts, or trade marks. Intellectual property rights in the content or data incorporated into this website belongs to its providers and exchange merchants.