"Geopolitical Tensions Threaten Global Economy with Energy Price Surge, Warns World Bank"
TL;DR Summary
The World Bank warned of a decade of weak growth and a "wasted opportunity," projecting a further slowdown in global output to 2.4 percent in 2024 due to the pandemic recovery, wars in Ukraine and the Middle East, and a weakened Chinese economy. Developing countries are particularly affected by high borrowing costs and sluggish trade volumes, while the recent conflicts in the Middle East and Ukraine pose risks of surging energy prices and inflation. The report also highlighted signs of fragility in China's economy and projected weak output in Europe and the United States for 2024.
- World Bank Warns of Energy Price Surge if Mideast War Spreads The New York Times
- Global economy set for its worst half decade of growth in 30 years, World Bank says CNBC
- Analysing Impact Of Geopolitical Tensions On Economic Growth TVC News Nigeria
- Global economy headed for worst half-decade in 30 years, World Bank warns The Washington Post
- 2020s could go down as 'a decade of wasted opportunity': World Bank CNBC International TV
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