It may seem that we should have written this post in January, right? Actually, wrong. Only now, in February, we are getting to see what are the predictions and economic expectations for 2020. The beginning of this month was marked by many reports on the growth or decrease of many countries around the globe. Besides, we have to consider the impacts of the Coronavirus on the global economy. As we previously mentioned, many countries are suffering from the lack of Chinese tourists and, with the disease spreading faster than ever, exports might suffer as well.
Something else that might affect many economies around the world is Brexit. In case you do not remember, the United Kingdom just left the European Union. While the separation might pose several negative effects to the countries inside the EU, many other nations may benefit from new trade deals with the UK. Thus, there are reasons to have good and bad expectations about what is going to happen this year. Economists and other specialists have a word to say. Check what they are foreseeing for 2020 right below!
Economic expectations for 2020: US, Europe, and Asia
Among the main economic expectations for 2020, there is the presidential election in the U.S. If you are following our posts, you know that a lot of tycoons and companies are benefiting from Trump’s policy of low taxes. If he gets the chance to govern for a second term, there will be implications for the global economy. The current President also provoked a trade war against China, but it may end if a Democrat takes office.
In our latest blog posts, we told you all about how Europe is facing a major crisis when it comes to the economy. Many rich countries within the Eurozone are not growing strong, while others are facing a contraction. Germany, for instance, is the greatest economy in Europe. However, its growth is nothing but unimpressive. Even Britain that expected some economic growth post-Brexit actually had to see its economy stagnated by the end of 2019.
Finally, we cannot leave Asia outside of the discussion over the economic expectations for 2020. The Coronavirus is already affecting a lot of countries that maintain trade deals with China. Japan, for instance, is about to witness the greatest contraction in its economy since 2014. Even the US will face a decrease in growth somehow, despite the fact that Americans were told to expect more jobs because of the problem. What do we learn from all of these? There is no way o stay unharmed when we are connected. However, if one gets better, we may all be better too.