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CIO CORNER

Looking through the uncertainties of 2024

In the current environment, fixed-income assets look more interesting than equities, especially investment-grade bonds

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    • China's property sector is likely to remain a drag on the economy, but to a lesser extent than in 2023.
    • China's property sector is likely to remain a drag on the economy, but to a lesser extent than in 2023. PHOTO: EPA-EFE

    Dong Chen

    Published Tue, Jan 23, 2024 · 06:20 PM

    WE ARE calling 2024 the year of the funambulist or tightrope walker, as we see economies walking a fine line to avoid a severe recession.

    A substantial slowdown in global growth is likely, with global gross domestic product growth declining from 3 per cent in 2023 to 2.8 per cent in 2024. The United States will likely have a mild recession in the first half, while Europe can avoid a severe recession and recover in H2.

    Advanced economies are mostly responsible for the weak momentum of world economic growth, while emerging markets should remain more resilient, with Asia ex-Japan likely to be the main contributor.

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