The Valenciaport Chair of Port Economics, of the Universitat de València and the Port Authority of Valencia (APV), presents its first Quarterly Report on the 2024 International Economic Situation.
This newly published report of the Valenciaport Chair of Port Economics on the international situation was presented by Vicente J. Pallardó, head of the Chair and a tenured university professor of Applied Economics at the UV. In this report, the following topics are discussed:
- Introduction: The report addresses the ending of a series of increases of the interest types in The West, highlighting the uncontrolled euphoria of the financial markets and its later correction. Uncertainty persists in anticipation of an immediate reversal of the economic contraction.
- Macroeconomic context: The distance of the Central Banks to meet the inflation objectives is analysed, as well as the reflection on the monetary expansion between 2009 and 2022. The need to adjust the balance proportions and reduce the capital injection to the economy is considered.
- Understanding the Quarter in Seven Tips: We delve into the evolution of the macroeconomic imbalances, the trend of housing prices and the worrying situation of external debt in developing economies.
- Focus on - Maritime Transport: The implications of the commerce regulations in the emission rights of maritime transport of the EU is analysed, evaluating the economic and environmental costs. The consistency of the European Commission regulations to strategic sectors is questioned.
- International Reference Prices update: The report examines the evolution of the type of interest and studies the recent movements in the raw materials and international currencies markets. The price of 2023 is compared with levels previous the pandemic.
- Reflections on International Trade: The analysis focuses on the United States external balance from mid 2010s, evaluating the impact of protectionism in the commerce with China and the diversion towards other international supply sources.
- 2024 prospects: Adverse winds are to be expected for the first term of the year, with geopolitical factors that will make challenging to have a robust economic growth.
- Conclusion: The report concludes with a summary of the key points, highlighting the economic prospects and challenges for the current year.
This seventh Quarterly Report, produced by the Valenciaport Chair of Port Economics, foresees a very minor economic increase in 2024.
