Post by account_disabled on Dec 30, 2023 3:50:23 GMT
PwC expects that in 2020 the world economy will enter a slowdown of globalization. Global trade and investment will proceed in a slower direction. And it is expected that the global economy this year will grow by approximately 3.4%, supported by easing financial conditions and increased reliance on household consumption. This will compensate for the slowdown in exports and investment. PwC Thailand expects the Thai economy to grow less than 3% this year, supported by the tourism sector and public investment. But we must follow up on risk factors regarding the war between the United States. and Iran said How wide - how little will it expand? including the trade war between the United States and China that continue to affect Thai exports and exchange rate fluctuations. Mr. Sira Intharakamthornchai, Executive Chairman and Partner at PwC Thailand, revealed the latest Global Economy Watch report.
The global economy in 2020 is expected to grow at 3.4% (based on Purchasing Job Function Email Database Power Parity (PPP) principles), compared to the 21st century long-term average of 3.8% per year, with PwC predicting that in 2020 It will be the year that the world economy enters a slowdown of globalization. (Slowbalisation) pressure from trade tensions remains a challenge to the organization of supply chains and economic cooperation among countries going forward. However, PwC forecasts that the service sector will continue to will remain the star of global trade, with the value of global export services expected to reach a record high of 7 trillion US dollars (approximately 212.56 trillion baht) in 2020, with the United States and United Kingdom remaining the top countries. The world's leading service exporter and expected The People's Republic of China will be able to overtake France and become number 4 this year. The outlook for world trade still faces uncertainty. Overall, global economic growth in 2020 remains at a stable level. The world's major economies will be supported by easing financial conditions and increased reliance on household consumption.
Instead of exports and investment, Mr. Barrett Kupelian, senior economist at PwC, UK, said: “Globalization has been a driver of the phenomenon and direction of the world economy since the 1970s, but in the recent past The volume of goods traded around the world has slowed sharply and almost entered a recession in recent years. In addition, the issue of the dispute settlement mechanism of the World Trade Organization (WTO) is still stalled even though it was discussed last December. But there is still no conclusion to the solution. Makes us expect that This will be a challenging issue for world trade going forward." "It is clear that We are entering a state of slowdown of globalization or Slowbalisation. Economic cooperation and trade will continue but will grow at a slower rate. By linking the picture of trade volume and economic growth rate together. Makes us expect that We will see lower than average global economic growth in 2020.” Employment will increase. But it is not evenly distributed. PwC also predicts that The Group of Seven (G7) world's leading industrial countries will continue to create jobs.
The global economy in 2020 is expected to grow at 3.4% (based on Purchasing Job Function Email Database Power Parity (PPP) principles), compared to the 21st century long-term average of 3.8% per year, with PwC predicting that in 2020 It will be the year that the world economy enters a slowdown of globalization. (Slowbalisation) pressure from trade tensions remains a challenge to the organization of supply chains and economic cooperation among countries going forward. However, PwC forecasts that the service sector will continue to will remain the star of global trade, with the value of global export services expected to reach a record high of 7 trillion US dollars (approximately 212.56 trillion baht) in 2020, with the United States and United Kingdom remaining the top countries. The world's leading service exporter and expected The People's Republic of China will be able to overtake France and become number 4 this year. The outlook for world trade still faces uncertainty. Overall, global economic growth in 2020 remains at a stable level. The world's major economies will be supported by easing financial conditions and increased reliance on household consumption.
Instead of exports and investment, Mr. Barrett Kupelian, senior economist at PwC, UK, said: “Globalization has been a driver of the phenomenon and direction of the world economy since the 1970s, but in the recent past The volume of goods traded around the world has slowed sharply and almost entered a recession in recent years. In addition, the issue of the dispute settlement mechanism of the World Trade Organization (WTO) is still stalled even though it was discussed last December. But there is still no conclusion to the solution. Makes us expect that This will be a challenging issue for world trade going forward." "It is clear that We are entering a state of slowdown of globalization or Slowbalisation. Economic cooperation and trade will continue but will grow at a slower rate. By linking the picture of trade volume and economic growth rate together. Makes us expect that We will see lower than average global economic growth in 2020.” Employment will increase. But it is not evenly distributed. PwC also predicts that The Group of Seven (G7) world's leading industrial countries will continue to create jobs.