As we look towards 2024, questions loom over the trajectory of global economic growth. With advanced economies showing signs of slowdown, the world faces the challenge of maintaining momentum amidst geopolitical tensions and persistent inflation. To understand the landscape, CGTN host Guan Xin engaged in a deep conversation with notable economists Li Daokui, dean of the Academic Center for Chinese Economic Practice and Thinking at Tsinghua University, and Thomas Sargent, the 2011 Nobel laureate in economics.
Both experts agree that resilience is key to navigating the uncertainties ahead. Li Daokui emphasizes the importance of fostering innovation and investing in emerging markets to counteract the stagnation in traditional sectors. \"Diversification and adaptability will be crucial for countries aiming to sustain growth,\" he notes.
Thomas Sargent highlights the role of policy measures in spurring economic dynamics. \"Addressing inflation without stifling growth requires a delicate balance,\" Sargent explains. He suggests that targeted fiscal policies and strategic investments in technology can help mitigate the adverse effects of inflation and geopolitical disruptions.
The conversation also touched upon the impact of geopolitical risks on international trade and cooperation. Both economists stress the need for collaborative efforts to enhance global economic stability. By leveraging data-driven strategies and fostering international partnerships, nations can build a more resilient global economy poised for growth in the new year.
As 2024 unfolds, the insights from Li Daokui and Thomas Sargent provide a roadmap for policymakers and business leaders alike to navigate the complexities of the global economic landscape.
Reference(s):
cgtn.com
