Decent Work and Growth

In September 2015, 193 world leaders agreed to 17 Global Goals for Sustainable Development. If these Goals are completed, it would mean an end to extreme poverty, inequality and climate change by 2030.
Goal 9: Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.

[New] From in 2021, China plans to bring out a paradigm shift in its economic model making domestic consumption, the main driver of economic growth.
[New] The U.S economy will grow at a robust pace of about 4% over the four quarters of 2021, the strongest growth in nearly two decades after the deepest recession since the Great Depression.
[New] We expect the general ramp-up in activity in the US to be cautious, with tight oil production continuing to decline into the second half of the year.
[New] The world's LNG production is expected to reach 672 mt in 2040, a 79% growth from 2020 numbers, while global liquefaction capacity is expected to nearly double by 2040, reaching a total of 886 million tpa, a 91% increase from 2020.
[New] With a growth rate of even 25% yr -1, removals in 2050 are doubled compared to the base case, from 2.3 GtCO 2 to 4.5 GtCO 2, and the growth rate stops constraining deployment in 2050 on average, compared to 2055 in the base case.
[New] Worldwide growth in 2021 will be 14.3%, which is a relatively low number compared with 2019's 20.2% and last year's 27.6%, but it still represents $611 billion in additional ecommerce sales.
[New] For the 2021-30 decade, we assumed a real (inflation-adjusted) GDP growth rate of less than five percent per year for China, and suggested that only India would still be experiencing accelerating growth after 2020.
[New] Smart patches have been added as a new category in the latest Gartner forecast for wearable electronic devices as they are projected to see significant growth in 2021.
[New] The healthier recovery for 2021 is due to a combination of improved external factors, especially as China returns to trends growth, and pent up domestic demand that will bolster economic activity.
[New] Global oil demand will return to the pre-pandemic level in the second half of 2022, with the average 2022 demand at 101.08 million bpd, which would be growth of 3.3 million bpd compared to 2021.
[New] Across developing Asia as a whole, ADB expects growth in gross domestic product of around 7% in the coming 12 months.
[New] Floating solar and wind are expected to see growth, and Masdar is backing Indonesia's first floating solar power plant with 145 MW of generation.
[New] Companies drilling development wells, conducting workovers and other interventions to stimulate production will help, but may not be enough to drive growth in 2021.
[New] The Foreign Secretary is expected to announce that the UK will pledge up to £38 million to the Climate Compatible Growth programme, supporting developing countries to accelerate their transition to green energy while growing their economies.
[New] Global demand for oil will still be growing in 2035 even with an enormous growth in electric cars in the next two decades, with numbers on the road rising from 1m to 100m, BP has predicted.
[New] Zenith predicts U.S. ad revenue to an even weaker 3.2% to $236.7 billion, again based on the growth of digital at 9.6%, which Zenith predicts will comprise 57.6% of all ad revenue.
[New] Most of the growth in US tight oil which was expected towards the end of 2021 is at risk to be offset by the decline in output from companies that have filed for restructuring in the last two years, as most of them are currently in their base decline phase with limited new well activity.
[New] The world's LNG production is expected to reach 672 Mt in 2040, a 79% growth from 2020 numbers.
[New] A 'great demographic reversal' in the coming years will lead to upward pressure on inflation, nominal and real interest rates, for example as the share of the population of working age falls back.
[New] Global spending on wearables is expected to reach USD 81.5 billion in 2021 and USD 93.8 billion in 2022, driven by the rise in remote working and people getting more interested in monitoring their health.
[New] The rapid growth of the Muslim population in Russia contributes to a sharp increase in demand for Islamic banking tools expected in the coming years.

Last updated: 17 January 2021

Decent Work and Growth

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