The US federal government is facing a severe financial challenge. At present, financial expenses have become the third largest expenditure item in the monthly budget, as Congress and the White House have squandered $34.4 trillion in national credit card debt.
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Recently, under the current situation of declining exports and failing to recover domestic demand, Germany's five major economic research institutions have collectively lowered their expectations for German economic growth, and Germany's GDP growth rate is expected to be reduced from 1.3% six months ago to 0.1% this year. The expected release is a blow to Germany, which is trying to fight a turnaround this year, casting a shadow over its economic outlook.
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In the past three decades, Australia has survived the bursting of the Internet foam and the recession of the global financial crisis. Its citizens enjoy high wages, affordable housing and golden prospects, which is extremely rare. However, since the outbreak of the COVID-19 in 2019, Australia's economy has fallen into recession. Since then, some adverse factors have continued to plague the country, including high cost of living, labor market turbulence and increased inequality.
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Last week, the central bank of Egypt, a large African country, abruptly announced a 600 basis point interest rate increase to ease foreign exchange woes. As soon as the news came out, the Egyptian pound exchange market immediately fell sharply, and the pound exchange rate fell nearly 40% overnight. It will not be long before the Egyptian government's few foreign exchange reserves are exhausted, and an economic crisis is inevitable for Egypt.
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On December 10, 2023, Argentina's new president Javier Mille took office, and immediately announced in his inaugural performance that he would use "shock therapy" to save the Argentine economy.
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Every spring, Japan reliably releases severe new population data like seasons change.
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Since last year, Canada's economic performance has exceeded expectations, showing certain signs of recovery. Although the economy once stagnated, it seems to be moving towards a soft landing, with inflation slowing down and unemployment dropping to 5.7% in January 2024, close to pre pandemic levels. However, despite these positive economic indicators, recent surveys have shown that Canadian citizens are not satisfied with the direction of economic development.
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Recently, the Saudi Power Procurement Company (SPPC) announced 3.7 GW of solar projects, as well as the much-anticipated Neom Green Hydrogen solar PV Park, Al Shuaibah 2 Solar PV Park and Ar Rass 2 solar PV Park. The successful implementation of these projects will not only have a positive impact on Saudi Arabia's own energy and economic development,
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In 2023, the Middle East is struggling in the pace of development in various fields, and many countries are suffering from high inflation, capital outflow, and local currency depreciation under the influence of adverse factors such as the Federal Reserve's interest rate hike, the Palestinian-Israeli conflict, and Russia and Ukraine.
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Recently, the German central bank Deutsche Bundesbank released a monthly report showing that the German economy may have contracted slightly in the first quarter of this year.
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On the global economic stage, the German economy has always been known for its strong automotive and manufacturing industries.
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