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FT writers’ predictions for the world in 2024

FT writers’ predictions for the world in 2024
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Sunday, 31 December, 2023, 16:54

The Financial Times (FT), renowned for its rigorous analysis and forecasts, has unveiled its predictions for the world in 2024. Reflecting on their previous forecasts for 2023, the FT has managed to hit several bullseyes, with only three misses. Notably, they did not anticipate the surge of the S&P 500 by over 20%, the absence of blackouts across Europe, and the fact that Africa, save for Ethiopia, avoided a string of defaults.

Shaping the Future: FT’s Predictions for 2024
Breaking new ground, the FT’s predictions for 2024 encompass a broad spectrum of global issues, ranging from potential military conflicts and climate change to economic trends and political outcomes. The American political landscape, highly volatile and unpredictable, is a significant point of discussion. The FT predicts that Donald Trump will not reclaim the presidential seat. However, his campaign promises to be a hotbed of contention. In terms of climate change, the FT forecasts that 2024 will surpass 2023 as the hottest year on record, fueled by the relentless march of climate change and the influence of the El Niño phenomenon.

Conflicts, Economies, and Politics
In the Middle East, the FT does not foresee a full-scale regional conflict erupting from the Israel-Hamas war, but it does not negate the persistent volatility in that region. On the economic front, the U.S. is expected to experience a short-term soft landing, with inflation dipping and growth remaining robust. However, potential difficulties may emerge later in the year. The FT also anticipates a political shift in the UK, predicting that Keir Starmer, the Labour Party leader, will assume the mantle of Prime Minister.

Asia: China and Taiwan
Turning its gaze to Asia, the FT does not predict a crash in China’s economic growth to 3% or less. Instead, it expects the growth to exceed 4%, bolstered by various support measures. In relation to Taiwan, the FT does not believe that a change in presidency will incite a Chinese attack. The potential new leader is expected to continue a cautious policy towards China, thereby avoiding escalating tensions. Lastly, in the ongoing Ukraine-Russia conflict, the FT believes that both the U.S. and the EU will sustain their financial support for Ukraine.

As we step into 2024, the Financial Times’ predictions offer a comprehensive glimpse into the potential realities that await us, reflecting the complexities of our rapidly evolving world.