A year of two halves: how global financial markets fared in 2024

Good for equities, good for the US, and good for crypto but the year spawned mixed blessings for the UK, China and Europe

Global markets tipped to keep rising in 2025 despite trade war fears

A trade war started by Donald Trump is seen as the biggest risk to market stability next year

Unpredictable change will sweep through America, while old problems, from war to inflation, are likely to afflict other countries

Policy easing and stronger exports have helped economy, but country still faces property crisis and weak demand

Campaigners call for action in 2025, as crippling repayments prevent spending to cut poverty and tackle climate crisis

Despite ‘spy’ scandal, Philip Hammond says Britain should now adopt a ‘pragmatic approach to Beijing’

President-elect reignites fears of a trade war as he says bloc must make up its ‘tremendous deficit’ with US

Japan’s complex defence alliances built up over years as protection against China could be put at risk in a Trump-launched trade war

Market share increases after strong demand within country offsets risks from western tariffs on Chinese-made EVs

US president-elect threatens retaliation if emerging economies create new currency to rival US dollar

Tariffs raise prices much like the GST – and like the GST it hurts people on low and middle incomes the most

Tariffs on Mexican, Canadian and Chinese goods threaten not just those nations but global economic growth

Figure costed for three multinationals repatriating to US after nomination for commerce secretary hits out at Ireland’s tax regime

Bank of England’s Swati Dhingra says threatened 60% tariff could lead exporters to cut prices elsewhere

The stakes are high for donors at next month’s IDA summit in Seoul, but not investing in development means more instability globally