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Economic boycotts against companies can arise for many reasons, but since war broke out between Hamas and Israel in October 2023, major corporations are feeling the pinch on their bottom lines for their perceived support of Israel. With no end in sight to the conflict, these boycotts could significantly affect global businesses in 2024.
Buy now, pay later is not a new payment option, but it is an escalating one as more BNPL firms flood into the consumer market, making the practice easier all the time. BNPL’s growing popularity is setting off alarm bells regarding how the payment method will adversely impact vulnerable consumers, eliciting calls for regulators to step in.
Taiwan’s sovereignty remains a thorny issue, especially after the presidential election victory of Lai Ching-te, chairman of the Democratic Progressive Party, which seeks the island’s independence from China. While China grasps the One China concept and strives to unify the Taiwan Strait’s two sides, the Taiwanese prefer the status quo.
Employment rates in OECD countries remain resilient, especially in Europe, where record highs have been recorded despite central banks’ monetary tightening to stem inflation. Labour shortages continue to challenge businesses, averting wide layoffs. The number of people employed has risen, but the average hours worked have not corresponded.
BRICS, the bloc of fast-growing economies that stands as a potent challenger to the Western alliance, has grown beyond the five countries from which it derives its name with the recent addition of six more members. Other nations plan to join BRICS+, creating a coalition of developing countries powerful enough to shake the global economy.