UK Seeks Renewable Energy Boost: Energy Secretary Ed Miliband to Visit China in 2025
IMF Reports Says Weakest Growth of World Economy Since 1990
By Garvit Vyas , 08 May, 2023
The world economy is supposed to grow at roughly 3 percent in the next five years. It is the slower pace since 1990 as told by the head of the International Monetary Fund.
According to the reports, the global growth has fallen almost in half to 3.4 percent in 2021. It is the below 3.8 percent average growth in the last two decades. The slowdown is continuing in 2023 as well, despite strong job markets in the countries like United States.
As per the information by IMF, the expected growth dip below 3 percent in 2023, with China and India accounting for more than a half of the growth. Around 90 percent of the advanced economies are supposed to see decline in growth by reflecting the borrowing costs, after the central banks raised the interest rates to stabilise soaring prices. Also, for the low-income countries the higher borrowing costs also arrive at a time of weakening demand for their exports.
Georgieva added, a severe blow is even harder for the low-income nations to catch up. Also, hunger and poverty may increase further in a dangerous trend that started by the global covid crisis. Thus, to call for support to vulnerable nations, the authorities must continue to lift up the interest rates to fight the inflation as long as financial pressures are limited.China and India Contributing World GDP
Latest News
UK Seeks Renewable Energy Boost: Energy Secretary Ed Miliband to Visit China in 2025
Energy Secretary Ed Miliband will visit China from March 17 to 19, 2025, to boost the United Kingdom’s (UK) renewable energy initiatives. This visit aims to revive the UK-China Energy Dialogue, excluding nuclear power, via clean and sustainable…
Semiconductors Powering the Future: Fostering Renewable Resources Growth Amid Complexity in Supply Chains
In 2025, the global semiconductor industry is set to boom as sales are projected to increase by 15 percent, reaching nearly USD 721 billion. This growth is prominent in both the technological region and the aiding toward the clean energy shift.
With…
Advanced Packaging Reshapes Chip Industry in 2025
The world of semiconductors is evolving with new advanced multichip packaging innovations in 2025. Due to the advancements, the chip's performance improves, mobile devices and new GenAI technology can be produced promptly, and production and…
AI Reinvents Energy Efficiency in Building Designs 2025: A Novel Approach to Clean Energy Transition
In 2025, AI technology will change energy efficiency in buildings, marking another milestone in the shift towards renewable energy. With AI, Building Management Systems (BMS) can now guarantee energy monitoring and optimization, which minimizes waste…
Big Tech Backs Nuclear Expansion: Pledges to Triple Global Capacity by 2050
Leading technology giants Amazon, Google, and Meta have teamed up with other big energy users in a historic action at the CERAWeek 2025 energy conference in Houston to promote an ambitious initiative: doubling world nuclear power capacity by 2025…
Garvit Vyas
Analyst
Latest News
Semiconductors Powering the Future: Fostering Renewable Resources Growth Amid Complexity in Supply Chains
Advanced Packaging Reshapes Chip Industry in 2025
AI Reinvents Energy Efficiency in Building Designs 2025: A Novel Approach to Clean Energy Transition
Big Tech Backs Nuclear Expansion: Pledges to Triple Global Capacity by 2050
