Growth slowing: Global GDP growth is projected at 2.3–2.6% in 2025—well below the ~3.2% average in previous years IMF世界银行PwCOECD.

Key headwinds: Trade tensions, a resurgence of tariffs (notably U.S. protectionist policies), elevated bond yields, and policy uncertainty are dampening investment and trade 维基百科+2金融时报+2安永+2.
Regional disparity:
Advanced economies like the U.S., eurozone, and Japan are growing modestly (0.7–1.8%), with the U.S. expected at ~1.5–1.8% next year OECDIMF.
Emerging markets vary: China around 4.4%, India ~6.6%, other low-to-middle income countries at ~3–5% 安永.Inflation landscape:
Global inflation gradually receding—from ~6.8% in 2023 to ~4–5% in 2025 IMF世界银行.
Developed economies are nearing central bank targets, while emerging markets lag.