Harvard Economist Forecasts 'Rocky Road' Ahead in 2024 Amid High Debt, China Slowdown, and Global Policy Uncertainty
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Higher-for-longer interest rates globally, driven by high debt levels, deglobalization trends, populism, defense spending increases, and the green transition
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Continued high US budget deficits and government overspending, despite a full employment economy
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China's economic troubles extending, as stimulus measures cannot prop up growth long-term and debt levels rise
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Japan facing challenges from loose monetary policy causing currency devaluation and possible inflation
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Emerging markets broadly facing risks of debt crises, though outright crises were avoided in 2023