The global economy is set to slow substantially in 2023, according to a new report from the World Bank. The lagged and current effects of monetary tightening, as well as more restrictive credit conditions, are expected to weigh on activity in the second half of the year, with weakness persisting into 2024. Excluding China, growth in emerging market and developing economies (EMDEs) is set to decline markedly, with the outlook weakest in countries with elevated fiscal and financial vulnerabilities. The resurgence of recent banking sector turmoil represents a serious risk. Widespread financial stress could have especially severe economic consequences.
According to a new report from the United Nations Conference on Trade and Development (UNCTAD), global trade was worth a record $32 trillion in 2022, but amid deteriorating economic conditions and rising uncertainties, growth turned negative in the last half of the year and is set to stagnate in the first half of 2023.
The silver lining was the strong performance of trade in environmentally friendly “green goods,” says UNCTAD’s latest Global Trade Update.
“This is good news for the planet,” says Alessandro Nicita, one of the report’s authors, “as these goods are key to protecting the environment and fighting climate change.”
Business trends in 2023 revolve around corporate sustainability. From adopting the circular economy to cleaning up the global supply chain, 2023 is the year that companies must put sustainability in business into action. University of Navarra IESE Business School professors explore ways to put sustainability at the heart of business.
New technologies to generate insights without exposing the underlying data is ushering in a new era for value creation in the digital economy. This session at Davos 2023 focused on mapping the genome to reducing the carbon footprint, and on how business leaders unlock value from data collaboration at scale.
The session was part of the ongoing Digital Transformation of Industries Initiative of the World Economic Forum. The World Economic Forum is the International Organization for Public-Private Cooperation.
Part knowledge, part equipment, part connections—World of Concrete is 100% of what you need to keep grinding it out through disruptions to the supply chain, safety and beyond. Get your hands on advanced technology and machinery, access the newest training and techniques in concrete and masonry, and build momentum for another unstoppable year.
Original equipment manufacturers from around the world and exclusive U.S. distributors of equipment, tools, products and services for the commercial construction, concrete and masonry industries. WOC attracts approximately 1,500 exhibiting companies and occupies more than 700,000 square feet of indoor and outdoor exhibit space.
More than 60,000 industry professionals from all around the world, representing all segments of the construction industry: Commercial Contractors, Concrete Contractors, Concrete Pumpers, Construction Managers, Dealers/Distributors, Decorative Concrete Contractors, Designers and Specifiers, General Contractors, Block/Segmental Unit Producers Masonry Contractors, Architects, Engineers, Block Producers, Ready Mix Producers, Rental Equipment Centers, Repair Contractors, Residential Contractors, Specialty Concrete Contractors, Precast, Pipe and Block Producers, Precast/Prestressed Producers, and more.
WOC 2023, will be held Jan. 17-19 (Education, Jan. 16-19) at the Las Vegas Convention Center. There is no onsite registration. All attendees must register online, before coming to the show to receive a printed badge onsite. Confirmation letters will contain a barcode to easily print out your badge once you arrive onsite.
The world is headed towards a global recession and prolonged stagnation unless we quickly change the current policy course of monetary and fiscal tightening in advanced economies, according to a new report from United Nations Conference on Trade and Development.
Supply-side shocks, waning consumer and investor confidence and the war in Ukraine have provoked a global slowdown and triggered inflationary pressures. All regions will be affected, but alarm bells are ringing most for developing countries, many of which are edging closer to debt default. Climate stress is intensifying, with mounting loss and damage in vulnerable countries who lack the fiscal space to deal with disasters, let alone invest in their own long-term development.
UNCTAD projects that world economic growth will slow to 2.5% in 2022 and drop to 2.2% in 2023. The global slowdown would leave real GDP still below its pre-pandemic trend, costing the world more than $17 trillion – close to 20% of the world’s income.
The U.S. Chamber of Commerce hosted its 2nd annual Global Forum on May 10 and 11, 2022. The forum focused on how government and business leaders can address global challenges
Myron Brilliant, executive vice president and head of international affairs for the U.S. Chamber, set the stage for the day’s programming. He summarized three major issues affecting the interconnected global economy, as well as some significant opportunities American businesses have to impact the global economy.
World leaders are failing to prepare for a new era of complex and often unpredictable risks to peace as profound environmental and security crises converge and intensify, according to a major report by the Stockholm International Peace Research Institute (SIPRI). The report, Environment of Peace: Security in a New Era of Risk, offers policymakers principles and recommendations for navigating this volatile future.
The manufacturing and supply chain community came together in March for a return to in-person trade shows with a record-setting MODEX event, according to show producer MHI. More than 37,047 visitors connected with over 857 exhibitors across 405,000-square-feet of exhibit space at Atlanta’s Georgia World Congress Center.
This was the largest MODEX event to date for MHI, with 20% more visitors than the last pre-pandemic show – MODEX 2018. Additionally, the direct economic impact of this event to the Atlanta area is estimated to be $45 million.
“MODEX 2022 was a huge success and a dramatic return to in-person events for the supply chain industry, said John Paxton, CEO of MHI. “After two years, exhibitors and attendees were excited to be there and energized by the opportunity to connect and get back to the business of discovering the latest supply chain technology and innovation in-person.”
The excitement on the show floor and the educational events is a sign not only of the pent-up demand for the latest solutions and technology, but also the overall strength of this industry. “Attendees representing the Fortune 500, the top 100 retailers and consumer goods firms brought large teams to MODEX to source the latest innovations and to learn leading trends impacting supply chains,” said Daniel McKinnon, executive vice president of Exhibitions at MHI. “They came to MODEX with plans in hand and budgets in place to make large deals on-site.”
The dominant trend at MODEX surrounded digital supply chain solutions including automation, robotics, artificial intelligence, autonomous vehicles, augmented reality, the Internet of Things (IoT), and data analytics. “We’re seeing a revolutionary acceleration in the adoption of these technologies in manufacturing and supply chain operations,” said Paxton. “The solutions on display this year reflected this trend.”
The next MHI-sponsored trade event will be ProMat 2023 held March 20-23 in Chicago’s McCormick Place. For more information on exhibiting at ProMat, or to register as an attendee, visit promatshow.com. The next MODEX will be held at the Georgia World Congress Center in 2024.
World Trade Organization (WTO) members and stakeholders from every part of the supply chain shared perspectives on the underlying causes and trajectory of continued supply chain disruptions. They also discussed the resources, interventions and innovations needed to ease crippling disruptions, logjams and price hikes.