The World’s Economic Titans this Year

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Welcome back to the World Brief, the flagship newsletter of The Viyug delivered to you directly from the Editor’s desk, catching you up on 24 hours of news in five minutes. In the last edition we read the summary of biggest political surprises of this year. This newsletter edition brings the executive summary of how the world’s economic titans behaved this year. Starting from America’s economy followed by China and stock market, we end this edition with quick updates on Russia-Ukraine conflict, aeroplane accident of Azerbaijan Airlines and Israel-Hamas war.

Cover Story

Has America’s Economy Truly Boomed This Year?

Image Credit – The Economist

By the start of 2024 high inflation had forced the Federal Reserve to raise interest rates to 5.5% – their highest level for more than two decades. Many expected America to have a recession. Instead, its economy has boomed. In the third quarter it grew by 2.8% year on year – a full percentage point more than forecast in July. America’s unemployment rate is around 4%, well below the average of the past 30 years. And inflation is finally coming down. Output per person is 40% higher in America than in Western Europe and Canada and 60% higher than in Japan. America has innate advantages, including a vast internal market and abundant natural resources.

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About the Author

Anirudh Phadke is the Founder/Editor of The Viyug. He is currently serving as a Member of the Board of Studies (BoS) for the Department of Defence & Strategic Studies at the Guru Nanak College (Autonomous). He previously worked for International Criminal Police Organization (INTERPOL). Anirudh holds a Master of Science in Strategic Studies along with a Certificate in Terrorism Studies from S. Rajaratnam School of International Studies (RSIS) at Nanyang Technological University (NTU). He completed Bachelor’s degree in Defence & Strategic Studies from Guru Nanak College (Autonomous).

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