Top 10 Most Significant Global Economic Events of 2024

Top 10 sự kiện nổi bật của kinh tế thế giới năm 2024

Top 10 Most Significant Global Economic Events of 2024

The year 2024 can be seen as a turbulent one for the global economy. From the trend of lowering interest rates by major central banks to ease economic pressures to the escalating trade tensions between China and the EU… Join us, Blue Ocean Realty, in reviewing the top 10 most remarkable global economic events of 2024.

1) Fed Lowers Interest Rates for the First Time in Four Years

The U.S. Federal Reserve (Fed) cut interest rates by 0.5% on September 18, 2024, following a similar move by the European Central Bank (ECB).

2) Global Economy Recovers Despite “Headwinds”

The International Monetary Fund (IMF) projected global economic growth at 3.2% in 2024, despite risks from geopolitical conflicts and trade disputes.

3) Rising Trade Tensions

Trade tensions intensified between nations and regions, especially between China and the U.S., Canada, Turkey, and the EU. The EU and these nations imposed tariffs as high as 45% or more on electric vehicles imported from China.

4) Japan Ends Negative Interest Rates After 17 Years

The Bank of Japan ended its negative interest rate policy after 17 years, causing significant fluctuations in global financial markets.

5) Explosive Growth of E-Commerce

The total global e-commerce transaction value reached approximately $6.3 trillion in 2024, a 17% increase compared to 2023.

6) Introduction of the AI Framework Convention

Numerous countries signed the AI Framework Convention to establish legal regulations for the development and use of artificial intelligence.

7) The Return of Nuclear Energy

Nuclear energy is becoming a new trend, with 31 countries committing to triple their nuclear power capacity by 2050.

8) Record-High Gold Prices’

2024 was a “golden year” for global gold investors, with the precious metal’s price increasing by about 35% due to rising inflation and geopolitical instability. Gold reached an all-time high of nearly $2,800/oz in October 2024.

9) Bitcoin’s Value Surges

In 2024, Bitcoin’s value more than doubled, surpassing $107,000 amidst predictions of a favorable outlook for the cryptocurrency market.

10) EU Imposes Import Tariffs on Chinese Electric Vehicles

On October 4, the European Union decided to impose import tariffs of up to 45.3% on Chinese electric vehicles, marking the largest trade dispute between the EU and China in a decade.

These events reflect a tumultuous 2024, with numerous factors shaping the global economic landscape.