The World Economic Forum's September 2024 Chief Economists Outlook report reveals that while the short-term outlook for the global economy has begun to stabilise, many vulnerabilities remain. Chief among the current sources of uncertainty is the US presidential election in November, with 80% of chief economists agreeing the election result will have a significant impact on economic policy globally. Against a backdrop of heightened superpower tensions between the US and China, geopolitical and geoeconomic risks are also increasing. The research identifies two main obstacles to making progress on more balanced growth: a lack of political consensus and a lack of global collaboration undermined both by domestic political trends and by geopolitical tensions.
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