The year in review
2024 was marked by mixed emotions: only 65% of participants in a global Ipsos survey described the year as bad for their country, the lowest figure since 2019. Despite significant challenges such as conflicts, high inflation, and cost-of-living crises, the international community reached a state of “cautious optimism.” The Paris Olympics offered a rare moment of global unity.
Economy
The global economy shows signs of stabilisation, with inflation under control in most countries. However, growth remains “steady but insufficient,” according to the IMF. Concerns loom over potential trade conflicts, particularly between the US, China, and the EU, while Trump’s tariff threats may impact Canada and Mexico. Bitcoin’s value has more than doubled, raising warnings of a potential “economic bubble.” In the US, soaring stock markets are viewed by some as a harbinger of recession.
Politics
2024 was dubbed the “Year of Democracy,” with major elections taking place. In 2025, significant elections are expected in Australia, Canada, and Germany. In Germany, the collapse of Scholz’s government and snap elections could bolster the far-right, with debates focusing on the cost of living and the repatriation of Syrian refugees.
Middle East
The region remains in crisis. The fall of Assad’s regime in Syria has triggered new instability, and Libya could face repercussions from the “dramatic collapse” of the Syrian government. The UN underscores the need to seize the opportunity for Syria’s reconstruction, while concerns rise over extremist groups such as Hayat Tahrir al-Sham.
Trump’s re-election
Trump’s return to power carries serious implications for the global stage. His “America First” policy may weaken US alliances while heightening geopolitical tensions with countries like China and Iran. He promises to resolve the Ukraine crisis and bring a ceasefire to the Middle East, but his unpredictable behaviour causes unease among allies.
Technology
2025 has been declared the “Year of Quantum Science and Technology.” Artificial Intelligence (AI) remains at the forefront, with investments surpassing $1 trillion, though adoption rates remain low. AI is expected to deliver personalised solutions, but the “arms race” in AI disrupts industries and daily life.
Also read: List of public holidays and long weekends in 2025
