India's ascent to continue as China slows: Wall Street 2024 forecast

Investors stay bullish on Japan despite anticipated monetary policy shift

20231219N Mumbai

India, the world's largest democracy, heads to the polls in 2024. The country is expected to continue its rise as an economic powerhouse. © Getty Images

JACK STONE TRUITT, Nikkei staff writer

NEW YORK -- Forecasts for 2024 by Wall Street banks are cautiously hopeful after a widely anticipated recession failed to materialize despite this year's aggressive monetary tightening by central banks and ongoing geopolitical instability.

Market analysts expect China to settle into a more moderate growth phase and India to continue its ascent as a new powerhouse in 2024, while a fresh economic landscape takes shape after a post-pandemic reshuffle.

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