The World Bank predicts the global economy will slow for a third consecutive year in 2024, growing only 2.4%. High-interest rates, persistent inflation, slumping trade, and diminished growth in China are hindering economic expansion. Global inflation is forecast to fall from 5.3% in 2023 to 3.7% in 2024 and 3.4% in 2025. The US is expected to see growth decelerate to 1.6% in 2024 as higher rates take a toll. China's economy is expected to grow 4.5% in 2024 and 4.3% in 2025, down sharply from 5.2% in 2023.