2016 Global Economy; 6 Major Factors
The year of political populism
Not only is political populism on the rise, but it is also making much stronger use of pop culture and artistic methods and aesthetics than in earlier years, 2016 may be a year of political populism. Social media, advertising aesthetics and media staging have lent a progressive appearance to simple or simplistic slogans. The world leaders’ are bridging gap with the public thus the voters are demanding for their need.
Thus even the most advanced economies need a strong government that clear the speculations of political populism will undermine the way government reacts to long-term challenges like insecurities in labor market. In order to attain the political trust back, the government will have to increase labour market flexibility as well as business climate.
Global insecurity and the refugee crisis
U.S. has been global leader of economy over the century, but as per the current status it is at the verge of losing the position. Thus the major factor which will determine the fate of the country’s economy will be the 2016 Presidential election, it will decide whether the new President can retain the economical power of the country.
Another major concern is the refugee crisis in Europe. As per the reports about on a global level there have been 60 million people who are forcibly displaced in 2015 which is 40 pct higher than of 2014. Germany, Sweden, Hungary, Austria and Italy are named as most affected countries with a major fall in their per capita.
