According to a UN survey, the global economy’s progress rate in 2021 was 2.5 percent, which could reach 2.5 percent in 2021.
Due to the possibility of raising prices due to tariffs (import duty), the risk of bounce in inflation has deepened. In such situations, there is a worrying situation for those economies that depend on the business.
Due to the change in high tariffs and business policies, there is a risk of disrupting the global supply chain due to the delay in increasing the production price and the delay in important investment decisions. This will weaken the possibilities of economic progress around the world.
According to the UN analysis, the opportunity of economic laziness is a wide range, which has influenced the economy of developed and developing countries worldwide.
Economic progress in the United States is expected to be very slow. In 2024 this rate was 2.8 percent, which can now be limited to 1.6 percent.
Private investment and consumer expenditure are likely to be affected due to high tariffs and policy uncertainty.
At the same time, China’s economy will increase by 5.6 percent this year, and in 2021, the rate of economic progress was 5 percent. This number for India can reach from.1.5 percent to .3.5 percent.
After the change, the economic growth of other major developing economies, including Brazil and Mexico, has decreased.
This sluggishness that has come to economic growth shows the confidence of consumers, the impairment of production in China’s property sector and the impairment of manufacturing in challenges.
Risk of inflation
In early 2021, inflation in more than two-thirds of the country reached higher than the average statistics of the pre-Global epidemic. In more than 20 developing economies, inflation rate has touched double digit.
During the 2023 and 2024, this trend is visible despite the news that is relieved in inflation.
The growth of food items in Africa, South and West Asia is especially high and is an average of six percent on average. This is the most difficult situation for short-minded families.
Inflation is bounced due to trade barriers and climate shocks, which emphasized integrated policies to bring stability to prices and assist families living in the formidable circumstances.
Economy
Lee Genhua, Under Secure
Central Bryk is trying to control inflation as well as the help of the weak economy. However, many governments, especially developed countries, have limited financial systems.
Because of this, it is difficult for them to deal with laziness in economic progress.
In many developing countries, this economic situation will become challenging to create employment opportunities, reduce poverty and deal discrimination.