Rethinking Business Models: Safeguarding Finances in a Volatile Global Economic Environment
By Rajendra Chitale In 2023, the global economy defied expectations, showcasing remarkable resilience amidst a backdrop of monetary tightening, geopolitical tensions, and financial volatility. Despite these challenges, global GDP growth surpassed projections by a significant margin, driven by robust labor market growth, a shift towards services, and fiscal support in select economies. However, the horizon remains fraught with uncertainty. Geopolitical tensions continue to escalate, with Brexit, US-China relations, and conflicts in Europe and the Middle East reshaping economic dynamics. Based on International Monetary Fund’s (IMF) recent forecasts, global economic growth is expected...