The global economy in 2024: World Bank predicts slowest half-decade of growth in 30 years

In its Global Economic Prospects report, the World Bank reaches the conclusion that we are in a "decade of wasted opportunity", where instead of being on track to reach key development and climate goals by 2030, we have seen the slowest half-decade of growth in 30 years. This is having devastating consequences, especially in developing and low-income economies. For more, FRANCE 24's Charles Pellegrin speaks to the World Bank's Deputy Chief Economist Ayhan Kose.
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[@kevoreilly6557]

So the comparison is a decade of free money vs a decade of debt readjustment - no kidding growth is lower

[@detectiveofmoneypolitics]

Economic investigator Frank G Melbourne Australia is following this very informative content cheers Frank 😊

[@louistan7560]

Behind all this is a known key culprit.

[@user-yi5er5wq4s]

Investors are losing the will to live. Once we lose that we're done.

[@user-vj4sn1hk3n]

Slowing down may not be that bad.

[@YesCivic-R]

Yes debts are piling up beecause covid disruption. TO SOLVE IT, need deflation to happen.

[@bps7209]

Europe is toast.

[@chillxxx241]

The developing world is hurting way more.

[@kevoreilly6557]

@@chillxxx241not in the long term. Only place with economic and demographic growth

[@chillxxx241]

@@kevoreilly6557We will see. The cost of doing business is increasing again.

[@Silks-]

0:33 "...instead of being on track to reach key development and climate goals by 2030, we've seen the slowest half decade of growth in 30 years..." - Do you not see the contradiction? It was/is our incessant hunger for growth that drove us down this track to self destruction in the first place. Anyway, it's too late to change our ways now. We have no choice but to maintain positive growth until the bitter end because to do otherwise would mean societal collapse (abrupt de-growth). We might as well try to delay that from happening for a few of years, and even that's optimistic. The collapse of our global society and the biosphere will compliment each other nicely. Happy extinction everyone :)

[@user-ij5dw3ob5o]

Intro is like fire😊😊😊

[@keirenle]

Msy be using their own currencies would certainly reduce costs in trades. Right now, the USd is very expensive due to their central bank policies.

[@kevoreilly6557]

Huh? Then how do you settle cross currency?

[@keirenle]

@@kevoreilly6557 bilateral

[@kakkamutta2072]

Half decade...?

[@dagmawii.e.4800]

😂 let us know when you fix the global system first before we do your structural adjustments that are meant to take resources and wealth away from these small developing countries. Btw, have you ever tried to structurally adjust the highly indebted countries in the West? Let us know what your success rates are ...