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Main Industrial and Trade Issues of 2024: Analysis and Countermeasures

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Abstract

Despite a projected global growth of 3% in 2024, uncertainties cloud the economic outlook due to ongoing conflicts, upcoming elections, and rising interest rates. Korea aims to navigate these challenges by boosting exports, attracting foreign investment, and building a more independent trade network through agreements with the US, EU, Africa, and Central America. The country seeks a proactive approach to counter trade issues and establish a mutually beneficial cooperation network.

Suggested Citation

  • Kim, Dongsoo & Kim, Soo-Dong & Lim, Soyoung & Kim, Kye Hwan & Min, Hyeok Ki & Shin, Yoon Sung & Cho, Eun Kyo & Park, Byungyul & Choi, Jeonghwan & Bing, Hyun Ji & Kang, Ji Hyun, 2024. "Main Industrial and Trade Issues of 2024: Analysis and Countermeasures," i-KIET Issues and Analysis 24/3, Korea Institute for Industrial Economics and Trade.
    • Handle: RePEc:ris:kietia:2024_003
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    Keywords

    global trade; Russia-Ukraine war; Israel-Hamas conflict; India elections; US elections; Biden; Trump; EU elections; far right; protectionism; economic security; nationalism; Korea; exports; inflation;
    All these keywords.

    JEL classification:

    • F00 - International Economics - - General - - - General
    • F01 - International Economics - - General - - - Global Outlook
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F10 - International Economics - - Trade - - - General
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission

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