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Foreword

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  • Millard, Stephen

Abstract

As I write, the world seems a more dangerous place than when we prepared our last forecast, just three months ago. There looks to be no end in sight to the Russia-Ukraine conflict, while in Gaza, Israel continues its campaign against Hamas. When thinking about the outlook for the world economy, it is important never to lose sight of the huge humanitarian costs of these conflicts. In addition, Houthi rebels in Yemen are firing missiles at Western shipping in the Red Sea, causing shipping companies to divert trade around the Cape of Good Hope and leading to a military response from the United States and the United Kingdom. A US military base in Jordan was attacked by a drone launched by an Iranian-backed militia group in Syria, increasing tensions between the United States and Iran. And, finally, the result of the recent Taiwanese election has not reduced tensions across the Taiwan Strait.

Suggested Citation

  • Millard, Stephen, 2024. "Foreword," National Institute Global Economic Outlook, National Institute of Economic and Social Research, issue 13, pages 1-3.
    • Handle: RePEc:nsr:niesrb:i:13:y:2024:3
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