Global South GDPs To Grow Faster Than Those Of Global North As Global GDP Shrinks In 2024

Africa | Rest Of The World November 29, 2024

Global economic growth is predicted to slow down in 2024, reported some media on November 29, 2023.

According to the reports, growth of the global economy (global GDP) will shrink from 2.9% in 2023 to 2.7% in 2024. Issues related to the war in Ukraine, monetary policies, multilateral cooperation, global trade flows, and shift to clean energy, among others, have been cited as factors behind the expected global economic slowdown in 2024.

However, and comparatively, in 2024 GDPs of countries in the so called Global South alias emerging economies or developing economies are predicted to grow faster than those of countries in the so called Global North alias advanced economies or developed economies.

Global South entails countries in Africa, Asia, and Latin America.

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