The world economy is currently facing a significant divergence between the United States and other countries in terms of their post-COVID recovery. While the US economy is showing strong indicators, countries like Germany and the UK are slipping into mild recessions, and China is facing challenges with its collapsing real estate sector, local government debt, and a decrease in foreign investment which is leading to stagnation. Additionally, Global South countries are dealing with record levels of debt.
According to economist Dambisa Moyo, who spoke with Ian Bremmer on GZERO World, global economic growth needs to be at least 3% per year in order to double per capita incomes in a generation. However, many countries in the Global South are not meeting this growth target, which presents significant challenges moving forward.
Moyo and Bremmer delved into the complexities of the current state of the global economy, highlighting China’s economic challenges while identifying potential opportunities for growth in developing economies over the next decade. GZERO World with Ian Bremmer airs weekly on gzeromedia.com/gzeroworld and on US public television – viewers are encouraged to check their local listings for broadcast times.
