Political dangers and geopolitical risks in 2024
The past few years have taught us to expect the unexpected, and the year 2024 is likely to be no different. Geopolitical issues and political dangers are poised to once again rock the global markets. The ongoing conflicts in the Middle East and the Russia-Ukraine war are expected to escalate, creating further instability. Disruptions to shipping in the Red Sea from Houthi rebel attacks are already pushing up transport costs, further adding to inflation pressures. Additionally, tensions between Beijing and Washington during the US election campaign could escalate, further heightening geopolitical risks. The packed election calendar in 2024, with crucial elections in major economies, is expected to add to economic uncertainty and lead to a wait-and-see approach by governments, households, and companies.
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