The twin ‘factories’ spurring global growth are both at risk

THE global economy and markets last year repeatedly defied trade wars, warnings of slow growth and multiple negative shocks – from geopolitical upheaval to attacks on the independence of the US Federal Reserve.

The tumultuous start to this year is a sign that such challenges are far from receding. And this year, investors will have to digest the rising risks to important enablers of growth in 2025.

Last year, the global economy and markets were helped by two high-pressure “factories” operating at full throttle, delivering positive outcomes that surprised even the most seasoned analysts.