Russia’s invasion of Ukraine has opened a window of opportunity for greater US engagement in Central Asia. .
The post-pandemic recovery in energy consumption will accelerate to growth of 1.8% in 2024, up from just 1.2% in 2023. This will be supported by strong demand in Asia, where consumption is expected to expand by 3.1%, despite the clouds over China’s economic outlook..
In late October the Canadian prime minister, Justin Trudeau, announced that the government would exempt heating oil from the federal carbon tax for three years and offer subsidies to help rural households to switch from oil to electric heat pumps..
In EIU’s latest Global Outlook video, head of global forecasting and economics, Tom Rafferty, and senior analyst, Michelle Campbell, discuss what to watch in Latin America for the year ahead..
The US 2024 election is likely to be a rematch between the Democratic incumbent, Joe Biden, and the former Republican president, Donald Trump..
In implementing CBAM, the EU has two primary aims: to increase the global pressure to reduce emissions in carbon-intensive industries and to improve the competitiveness of EU-based producers, which currently face far higher regulatory costs than competing imports. However, CBAM will have an adverse effect on exports from resource-rich countries in Africa and the Middle East, as well as economies with a large industrial base (see map). For these countries, the implementation of carbon border taxes in 2026 will make CBAM product exports less competitive in EU markets. Unless these countries manage to secure investment (corporate or government) to decarbonise affected industries, CBAM will push EU importers to look for alternative suppliers, causing a shift in global trade that risks spiralling into retaliatory measures and trade tensions. .
The analysis and forecasts featured in this piece can be found in EIU’s Country.
The analysis and forecasts featured in this piece can be found in EIU’s Country.
The main point of contention—which prompted a formal complaint by the UK to a bilateral EPA council in January—is the import duty charged by Kenya on imported alcoholic beverages, including wine and whisky. .
EIU’s forecast of 2.4% economic growth in 2024 is unchanged, although the fourth-quarter result raises the risk that the slowdown in economic activity in the first half of the year could be more pronounced than we currently expect..