As 2024 comes to a close, it leaves behind a landscape marked by significant political, economic, and social upheavals. From the rise of populist movements to conflicts that reshaped entire regions, the year was pivotal in redefining the trajectory of nations and the global order. This article explores the most prominent events of 2024 and their implications for 2025.
Political Upheaval and Democratic Resilience
Elections were at the heart of 2024’s political transformations, with nearly 70 countries—half the world’s population—participating in pivotal votes. Economic discontent and global instability fueled anti-incumbent sentiment, driving far-right and populist parties to gains in Europe and Asia.
United States: Former President Donald Trump’s return to the White House marked a significant political comeback. Despite two assassination attempts, his clear victory in the election provided a semblance of stability in an otherwise polarized nation. Trump’s reelection could lead to major shifts in U.S. domestic and foreign policy, with trade tariffs and isolationist strategies, such as levying outrageous tariffs on foreign trade, potentially redefining global economic relations.
Mexico: Claudia Sheinbaum’s historic election as Mexico’s first woman president came at the cost of the bloodiest election in the country’s modern history. The assassinations of 37 candidates underscored the pervasive influence of cartels and corruption. Sheinbaum’s presidency is expected to focus on addressing these challenges, but the violence has exposed deep systemic issues that will require sustained reforms.
India: Prime Minister Narendra Modi retained power in India, but his Bharatiya Janata Party (BJP) lost its outright majority for the first time in a decade. This outcome marked a significant shift in Indian politics, where Modi’s dominance had been largely uncontested. The BJP’s reduced strength in parliament has compelled it to rely on coalition-building with regional parties, thereby altering the traditional power dynamics. Regional parties like the Trinamool Congress, Samajwadi Party, and Dravida Munnetra Kazhagam have gained substantial leverage in negotiations, allowing them to push for greater autonomy and region-specific policies.
This trend was echoed in Japan, South Africa, and Romania, where dominant parties faced setbacks, leading to fragile coalition governments that may struggle to deliver on key promises.
Meanwhile, democracy demonstrated resilience in crisis-prone regions. In South Korea, President Yoon Suk Yeol declared martial law but was swiftly impeached following widespread protests. The incident highlighted the fragility of democratic institutions but also underscored the power of public accountability. Similarly, revolutionary movements in Bangladesh and Syria toppled autocratic regimes, opening pathways for reform. Nobel laureate Muhammad Yunus leads Bangladesh’s interim government, focusing on electoral reforms, while Syria’s future remains uncertain under Islamist rebel control.
Geopolitical Alliances and Conflicts
The “Axis of Upheaval”—a growing alignment between Russia, China, Iran, and North Korea—emerged as a formidable challenge to Western influence. Though not a formal alliance, these countries deepened their cooperation through military, economic, and technological partnerships.
Russia and Iran: Iran provided drones and North Korea millions of artillery shells along with military personnel to support Russia’s war in Ukraine, while Russia shared advanced military technologies in return. Russian President Vladimir Putin’s visit to Pyongyang marked a significant milestone in this growing alignment.
China and Russia: Joint military exercises intensified, with bombers entering Alaska’s Air Defense Identification Zone, signaling their willingness to challenge U.S. dominance. While their interests often diverge, these countries share a unified goal of reducing American influence.
China and Taiwan: China also ramped up military exercises along the Taiwan Strait, signalling an early conflict with the democratic island nation with the goal of reunification. With experts hinting at an armed conflict in 2027, international powers are closely observing the developments in the Indo-Pacific region.
Middle East: The Middle East experienced profound shifts as conflicts in Israel, Lebanon, and Syria reshaped regional dynamics. The Israel-Hamas war escalated into broader confrontations with Hezbollah and Iran, leading to thousands of casualties and regional instability. By December, Turkish-backed forces overthrew Bashar al-Assad’s regime, isolating Iran further but leaving Syria’s governance in question.
Economic Resilience Amid Uncertainty
Despite geopolitical turmoil, global trade demonstrated remarkable resilience in 2024. Major trade routes remained operational despite disruptions such as Houthi attacks on the Suez Canal and fluctuating U.S. policies under Trump’s leadership.
Inflation and Monetary Policies: Central banks in advanced economies struggled to balance inflation control with economic growth. The U.S. Federal Reserve adopted a cautious approach, maintaining higher-than-pre-pandemic interest rates. Europe’s inflation rates trended downward but remained elevated, while Japan began normalizing its monetary policy after years of stimulus.
Food Security: Rising food prices exacerbated inflation and social unrest, particularly in developing nations. Governments employed strategies like price controls and subsidies, but these measures often proved inadequate. Food insecurity remained a critical issue, with disruptions in Ukraine and the Sahel further straining supply chains.
The reelection of Trump has raised fears of new trade tariffs, which could disrupt global markets in 2025. Economists remain divided on whether the global economy will see sustained growth or stagnation, with liquidity concerns and potential stock market bubbles posing risks.
Technological Progress and Regulatory Challenges
The rapid evolution of artificial intelligence (AI) defined 2024 as a transformative year for technology. Breakthroughs in healthcare, genetics, and manufacturing showcased AI’s potential, while concerns about workforce displacement and resource consumption persisted.
EU AI Act: The European Union’s landmark AI legislation set a global precedent for regulating this powerful technology. It introduced stringent rules on data usage, transparency, and accountability, prompting other nations to consider similar measures.
AI Innovations: AI continued to revolutionize various sectors in 2024, with groundbreaking advancements recognized at the highest levels. The Nobel Prize in Physics honored John Hopfield and Geoffrey Hinton for foundational contributions to machine learning with artificial neural networks. In Chemistry, Demis Hassabis and John Jumper received accolades for developing an AI model that resolved the 50-year-old challenge of predicting protein structures, accelerating drug discovery and advancing biotechnology.
However, these achievements underscored growing concerns about inequality. Nations leading in AI development, such as the United States and China, widened the gap over countries lacking resources and infrastructure to compete in the AI race. The barriers to entry, including the need for skilled labor, massive computational resources, and robust energy supplies, have created a digital divide that risks exacerbating global inequalities. Experts warn that without international collaboration and equitable policies, the AI revolution could entrench disparities between wealthy and developing nations, limiting the transformative potential of these technologies for global good.
Looking Ahead to 2025
As 2025 approaches, the world faces a mix of challenges and opportunities. Fewer elections are scheduled, but key votes in Germany, Bangladesh, and Syria could shape regional and global dynamics. Meanwhile, economic and technological uncertainties demand coordinated global responses.
The events of 2024 underscore a world in flux—one grappling with shifts in power, ideology, and governance. As nations navigate these transitions, the potential for collaboration and conflict remains equally potent, setting the stage for another transformative year ahead.
Manbilas Singh is a talented writer and journalist who focuses on the finer details in every story and values integrity above everything. A self-proclaimed sleuth, he strives to expose the fine print behind seemingly mundane activities and aims to uncover the truth that is hidden from the general public. In his time away from work, he is a music aficionado and a nerd who revels in video & board games, books and Formula 1.
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