Global Risks Report 2024: The World Economic Forum’s global overview
Here’s a quick summary of the key risks highlighted in the Global Risks Report 2024 and how they are likely to play out over the next decade. – Written by Seref Dogan Erbek
World Economy
Setback for Fed and ECB on interest rates. What happens now?
The Fed and ECB have decided to keep interest rates unchanged after a period of consecutive hikes due to growing fears about the global economy. So what happens now? – Written by Seref Dogan Erbek
Big Tech’s EPS disappoints investors and reverberates across markets
On a turbulent day on Wall Street, Big Tech giants experienced a significant setback as their Earnings Per Share (EPS) reports disappointed investors, causing a domino effect that sent shockwaves through various market sectors. – Written by Seref Dogan Erbek
The era of space conquest: a new frontier in exploration
In recent years, humanity has witnessed a remarkable resurgence in space exploration. With increasing investments, ambitious lunar missions by countries like India and Russia, and the relentless technical expertise of private companies like SpaceX, we are standing at the threshold of a new era in the conquest of space. I believe the next 36 months …
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The fear of global public debt: a looming economic crisis in Europe
The specter of global public debt has become an ever-present concern haunting economies across Europe. In recent years, this fear has transformed into a stark reality as public debt levels have soared, leading to economic challenges for many European nations. The statistics are shocking: Spain and Italy have debt to GDP ratios of 120% and …
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Increasing employment in renewables: almost half are in China
In line with the increasing deployment of renewable energy projects worldwide, jobs in the sector are also surging — and China is far and away the top employer within the space. According to the International Labor Organization’s Renewable Energy and Jobs Annual Review 2022, there were 12.7 million jobs in renewable energy in 2021, with …
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IMF: the climate challenge is playing out in emerging countries
Climate change is a pressing issue that affects every corner of the world, and in my opinion, emerging countries are particularly vulnerable. As temperatures rise, natural disasters become more frequent and intense, and sea levels continue to rise, these countries face a range of threats that could have devastating consequences. The threat of extreme weather …
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European economies see the first effects of rising interest rates
In late 2021, central banks around the world began unwinding liberal monetary policy stances and taking the first steps towards quantitative tightening in a bid to fight record inflation. The European Central Bank started raising interest rates in July 2022 at an almost unheard of speed and scale, culminating in a rise of about 300 …
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Interest rate hikes fight inflation. Here’s how central banks have acted
Amid sharply rising global energy and food prices, inflation has threatened to spiral out of control worldwide, and this is prompting concerted action from major central banks. With inflation hitting multi-decade highs in most economies, central banks are responding by hiking interest rates at a similarly record-breaking pace. For instance, the Bank of England recently …
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Why are small businesses losing confidence in national economies?
In a survey conducted in November 2020, McKinsey & Co. found that roughly 80% of European small and medium-sized enterprises (SMEs) viewed their economy as “somewhat to extremely weak”. While the sentiment varied across national economies, SMEs in Italy and Spain were the least optimistic, while Germany had the most optimistic. Nearly two years later, …
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