2024 Economic Outlook: Central Banks Ease Policy, Debt Fears Loom, Tax Cuts Expected in UK, US-China Tensions, and AI's Continued Rise
• Central banks starting to cut interest rates as inflation comes down and growth slows • A potential developing-country debt crisis, with many poor nations struggling with high debts and interest costs • Pre-election tax cuts in the UK budget as the government tries to woo voters before the 2025 election • Worsening US-China relations as the two superpowers drift further into a cold war • The unstoppable rise of generative AI and its potential to transform economies, while also posing regulatory challenges