According to the latest report from Allianz Trade, the global economy will continue to face challenges, with lackluster growth from the cumulative impact of monetary policy tightening until the end of 2024. Overall, global GDP growth is projected to slow to +2.7 per cent in 2023 and +2.4 per cent in 2024; the US will see a mere +1.1 per cent GDP growth in 2024, the slowest rate since 2009; China is expected to see a slow landing to +4.7 per cent in 2024 and +4.2 per cent in 2025; for Asia Pacific as a whole, Allianz Trade anticipates a growth rate of +4.1 per cent for 2024 and +3.9 per cent for 2025.
