IEEE CTS LMAG and CTCN 6.27.2024 meeting- Economic Outlook 2024-2025
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Before looking into the Forecasters’ projection into 2024-2025, Mr. Greenfield will review the Post WWII period when US was the dominant economic power in the world. In 2023, US has four percent of the world population while accounting for 23 percent of the world’s Real Gross Domestic Product (RGDP). While we continue to be the world’s dominant country since the turn of the century, our economic growth rate has declined. Stuart will delineate the factors that are affecting the rate of change, and what we need to do to reverse the trend and keep up with the rest of the world or adjust to the new world of many developing country with much higher growth rate.