Throughout the last few months, the election has ramped up. Last Tuesday the results were finalized when Donald Trump won the presidency by 86 electoral votes, sweeping all of the “swing states”. This was paired with a Republican majority in the House and the Senate. In other world news, the conflict between Canada and India has been heightening as there is violence attributed to the pro-Khalistan activists. Canada has called for peace between the two countries.
In economic news, the US trade deficit has gotten larger from $70.8 billion to $84.4 billion. This is a result of a decline in exports and a surge in imports as higher consumer demand has created a global trade shift. Global growth has been stable but is lower than usual. The projects are saying that the world economy is supposed to grow by a modest 3.1%. This can be attributed to geopolitical tensions, inflation, and disruptions in emerging markets. Inflation in the US rose to 2.6%, this can be connected to the service and energy prices in the US moving up. AI investments have strengthened Asia’s economy as large semiconductor plants are starting to be opened in China and India. This is creating a strong growth outlook for the future of the Asian economy.