Inflation-fueled voter dissatisfaction overthrew the world’s leaders in 2024, while tech giants changed economies around the world.
- Inflation made people around the world dislike the current government.
- Trump’s return caused worries about world peace.
- The rise of AI changed businesses and investing.
Even though inflation had slowed down around the world in 2024, it was still painful for voters, who turned out in large numbers against leaders, changing the political settings around the world.
Years of rising prices for things like eggs and energy made people angry, which led to big changes in the election results.
In the US, Donald Trump was re-elected four years after his controversial departure in 2020, thanks to feelings caused by rising prices.
His win means that political organizations and foreign ties will have to work harder, especially when it comes to the war in Ukraine.
In Europe, Trump’s promise to “end the war in a day” has caused worry because many people think it could help Vladimir Putin and stop land disputes.
At the same time, Russia re-elected Putin with an amazing 88% of the vote, strengthening his hold while progressing in its war against Ukraine.
Britain, Botswana, Portugal, and Panama all had their governments change because of inflation. In South Korea, opposition groups gained ground in parliament, which caused problems with President Yoon Suk Yeol.
Yoon briefly declared martial law, but the National Assembly of the country pushed back, showing how deeply divided politics are.
There were also big changes in the elections in France, Germany, Japan, and India, which shows that people around the world are unhappy.
On the other hand, global conflicts rose in the Middle East. Israel’s war with Gaza spread to Lebanon, where it was aimed at Hezbollah and made it weaker.
In the meantime, things changed dramatically in Syria when rebel groups removed Bashar al-Assad and started working to change the future of the country.
How did inflation change the way the world led in 2024?
- Voting against incumbents increased across countries because of inflation.
- The world is more worried about Ukraine after Trump’s victory in the U.S.
- Even Japan and Germany, which are thought to be safe, saw changes.
- Russia stayed different as Putin consolidated power.
In business, the rise of AI has changed the way businesses work. “Magnificent Seven” tech companies made up more than a third of the S&P 500’s market cap.
This shows how powerful tech is. Elon Musk, the CEO of Tesla and now a financial backer and assistant to President-elect Trump, says that technology and politics may come together to shape global power structures in 2025.