The report reveals that an overwhelming majority of surveyed economists (79%) view the current geoeconomics developments as signs of a significant structural shift for the global economy rather than a temporary disruption.
“Policymakers and business leaders must respond to heightened uncertainty and trade tensions with greater coordination, strategic agility and investment in the growth potential of transformative technologies like artificial intelligence,” said Saadia Zahidi, Managing Director, World Economic Forum, in a statement. “These steps are essential for navigating today’s economic headwinds and securing long-term resilience and growth.”
According to the report, a majority of surveyed economists see current U.S. economic policy as having a lasting global impact, with 87% expecting it to delay strategic business decisions and heighten recession risks. The growth outlook is divided, with weak prospects in North America.