2020s on Course To Be Weakest Decade for Global Economy Since 1960s, Says World Bank (theguardian.com)
- Reference: 0178000297
- News link: https://news.slashdot.org/story/25/06/10/1959223/2020s-on-course-to-be-weakest-decade-for-global-economy-since-1960s-says-world-bank
- Source link: https://www.theguardian.com/business/2025/jun/10/world-economy-world-bank-donald-trump-tariffs
The revised forecast would mark the slowest growth rate outside full-blown recessions since 2008. Even with a modest recovery to 2.4% expected in 2026, the bank characterized the outlook as merely "tepid." Chief economist Indermit Gill said "outside of Asia, the developing world is becoming a development-free zone." Growth in developing economies has steadily declined from 6% annually in the 2000s to 5% in the 2010s, now falling below 4% in the 2020s. The bank said that "many of the forces behind the great economic miracle of the last 50 years" have reversed, with more than half of low-income countries either in debt distress or at high risk.
[1] https://www.theguardian.com/business/2025/jun/10/world-economy-world-bank-donald-trump-tariffs
Orange Jesus (Score:3)
Not only shitting in his own pool but the world's.
Re: Orange Jesus (Score:2)
Pretty sure that Covid and Putin's ego project have had a bigger impact than Trump. With all his backsliding, weâ(TM)ll have to wait a little longer to see how much impact Trump has in comparison.
Endless growth is impossible (Score:4, Interesting)
Yet the economic pundits continue to promote the myth that endless growth is possible and write headlines that complain about growth being a bit low.
We need steady-state sustainability
Growth is for trees. (Score:2)
And even they usually don't end well. Limbs break, winds blow it over, etc. Eventually it will slowly decline and die, and that is if everything goes right.
Economy and government is the same way, the former hides non growth by suffering inflation, the latter should only be spending money the people give it.
Debt. debt. deb... ooops the economy will eventually go broke; it is a broken design to rely on increasing debt (spending money you don't have) and inflation (everyone gets a raise every year).
Re: (Score:3)
Trump: Market decline is a good thing
MAGA: Market decline is a good thing
All he did was bitch about "sleepy Joe" and his bad economy.
Re:Endless growth is impossible (Score:5, Insightful)
"Anyone who believes that exponential growth can go on forever in a finite world is either a madman or an economist." - Kenneth E. Boulding
tools to artifically inflate GDP not working... (Score:2)
A few steps which helped for a while and now are causing a GDP hangover
- Lowering down payments, artificially lowering interest rates and other gimmicks to make it easier to buy a house -> home prices rise drastically -> home sizes increase drastically -> starter homes not being built because of lower profit potential for homebuilder
- Undercounting inflation since before 2000 to reduce old age Social Security burden on the federal budget
- Legalizing corporate stock buybacks, Clinton presidency, whe
Re: (Score:3)
> Yet the economic pundits continue to promote the myth that endless growth is possible and write headlines that complain about growth being a bit low. We need steady-state sustainability
Interesting point, but I think it really depends on what you're measuring. If you're Netflix and you're measuring growth of your subscriber base, at some point every human has a subscription and you flatline, disregarding population numbers. If you're digging oil wells and pumping barrels of stuff with a finite supply, at some point you run out of supply. If you're growing corn, at some point you run out of land.
But... if you're looking at the big picture and you're including things like pumping out no
Re: (Score:2)
> Yet the economic pundits continue to promote the myth that endless growth is possible and write headlines that complain about growth being a bit low.
> We need steady-state sustainability
Endless growth is entirely possible when it is predicated on the idea that the population contributing to the economy grows. The problem here isn't that growth stopped, it's that it has stopped while there are more people than ever contributing to it. There isn't some fundamental rule of the universe driving the recent trend, that is an actual set of policies that are causing economic efficiency and output to go backwards.
But in any case what you are writing about isn't even relevant here. It's not some cor
Re: (Score:2)
We needed it decades ago, but too many people did well out of the growth phase to give it up. Of course they aren't the ones suffering now.
The younger generations are really screwed. One "once in a lifetime" financial crunch after another, looming climate change costs, and a completely broken social contract. At least they aren't falling for the bad advice their parents gave them anymore.
Not a single mention of a global pandemic (Score:2)
That's curious.
Re: (Score:2)
> Ironic comment implying that the consequences of Covid-19 was exaggerated? For your info, Covid-19 killed about 18.2 to 33.5 million people and is the 5:th the deadliest pandemic in history. And Malaria is still active, having killed about 608 000.
Well, that’s one hell of a way to miss the parents point. Completely. Let’s see if this drives it home.
Write headlines and stories about how this is setting up to be the “weakest decade” without accounting for an obvious global pandemic?
Even bullshit is calling bullshit on that clickbait.
Re: (Score:1)
or the irresponsible amount of money printing
The incompetence is staggering (Score:3)
> Chinese "exports have risen by 6% overall, owing to increased shipments to Europe and South-East Asia. China's currency, meanwhile, is stronger now against the dollar than it was before April 2nd."
[1]https://www.economist.com/fina... [economist.com]
This administration is too dumb to even know how to conduct a trade war.
[1] https://www.economist.com/finance-and-economics/2025/06/10/how-america-and-china-spooked-each-other
Re: (Score:3)
The guy literally can’t even make money at a casino, so they put him in charge of the country and economy. Bring the popcorn.
Re: (Score:3)
“The fastest way to make a small fortune? Give your son a large fortune.” Frederick Trump
Re: (Score:2)
Man, this sort of thing I almost makes me miss the Greased-Up-Yoda-Doll Troll.
Re: (Score:2)
You've been posting this for years. Are you so brain dead that this is all you have?