Financial Times predictions for world in 2024

Photo: FT authors' predictions about the world in 2024 (Getty Images) © RBC-Ukraine (CA)

Next year, American President Joe Biden may win the presidential elections, while Ukraine’s allies are expected to continue providing support, according to the predictions of Financial Times.

The FT writers made predictions about unexpected events in the coming year. Financial Times suggested that Biden will win the upcoming elections in the United States, and allies will continue to provide assistance to Ukraine.

Who will become the president of the United States

According to the publication, former President Donald Trump will not secure victory in the elections. They suggest that if recent legal obstacles against Trump in Colorado and Maine are overcome, his campaign against Joe Biden will become the most repulsive presidential election in U.S. history.

“It will be very close run. Trump will be criminally convicted in at least one of his four trials, probably two, before the election, and will present it as political persecution by the “Biden crime family”,” FT reported.

Will the next year be hotter than 2023

The current year has been marked by such a number of extremely hot days that it is almost certain to turn out to be the hottest in 174 years of climate observations when the final figures are tallied.

However, many scientists expect that the year 2024 will be even warmer, as the heat in 2023 was intensified by the natural climate phenomenon El Niño. This typically has the most significant impact on global temperatures after reaching its peak, which may occur no earlier than January 2024.

Will the war between Israel and HAMAS lead to a full-scale regional conflict

According to the prediction of the publication, the war has triggered violence throughout the region involving Iran-backed militant groups. The greatest concern is that border clashes between Hezbollah, a powerful Lebanese movement, and the Israeli forces will escalate into a full-scale conflict between them.

Despite the clear message from the government of Israeli Prime Minister Benjamin Netanyahu that they can no longer coexist with Hezbollah militants entrenched on the Lebanon-Israel border, they hope that diplomatic pressure will contain the situation.

At the same time, neither Washington nor Tehran wants a broader regional conflict, even if hostilities between Hezbollah and Israel intensify, but the situation remains alarmingly unstable.

According to the prediction of the publication, many people in Taiwan and beyond are now more concerned about war due to China’s expanded military maneuvers.

The leader of the January presidential elections, from the ruling Democratic Progressive Party, Lai Ching-te, also has a very different past compared to the current president, Tsai Ing-wen.

However, Lai has made it clear that he will adhere to a cautious position towards China, not giving Beijing any pretext for an attack. The Chinese leadership led by President Xi Jinping seems to still believe that it has a chance to reunite Taiwan without a fight—by strengthening military intimidation, political infiltration, economic incentives, and international isolation.

Will the US and the EU continue to fund Ukraine

When the Ukrainian counteroffensive against the Russian invasion stalled at the end of 2023, military and financial support for Kyiv became a contentious issue.

The Biden administration is determined to continue the supply: a deal with Republicans in Congress may involve concessions on the security of US borders in exchange for expanding aid to Ukraine.

An even greater challenge will arise if Trump returns to the presidency.

EU leaders, in the meantime, must find ways to bypass Hungary’s veto on a €50 billion financial aid package early in 2024.

Will company X go bankrupt

Elon Musk often uses bankruptcy warnings for motivation; he did it at Tesla and SpaceX. But this time, with X (Twitter) advertising failing and attempts to create new revenue streams unsuccessful, there is a significant likelihood that this might happen.

After recent emotional outbursts directed at X advertisers, he might be reckless enough to consider leading the company through bankruptcy and still remain on top.

Musk’s struggle for control over X under bankruptcy conditions would be an exciting continuation of the dramatic Twitter acquisition saga.

Elections in the United States

The next presidential elections in the United States are scheduled for November 5, 2024.

According to forecasts, the main Democratic candidate will be the incumbent American leader Joe Biden, and the Republican candidate will be the former head of state, Donald Trump.

Assistance to Ukraine from the EU

Last year, the European Union proposed allocating 50 billion euros to Ukraine by 2027. Unanimous consent from all countries is needed to approve such a decision. Hungary vetoed this proposal.

Earlier, we reported that the Minister of Foreign Affairs of Ukraine, Dmytro Kuleba, announced that EU countries would approve 50 billion for Ukraine. This could happen even without Hungary’s consent.

Hungary’s Prime Minister Viktor Orban has already acknowledged that the EU could allocate 50 billion euros to Ukraine without the consent of his country.

Source: RBC Ukraine