Which major economic issues are most concerning to economists in 2017? originally appeared on Quora - the place to gain and share knowledge, empowering people to learn from others and better understand the world..
Major issues of pressing concern:
- The possibility of a trade war between the U.S. and China or Mexico or both.
- The possibility of a housing/financial crisis in China that will send that country into a huge recession, dampening demand worldwide.
- The possible breakup of the European Union, which will be highly challenging to unwind.
- Another financial bubble bursting in the U.S. -- though I don't think this is too likely.
These are the pressing short-term issues. They are not the pressing long-term issues. Some longer term issues are:
- Paying the huge health and retirement costs of the aging and slow-growing populations in the developed world.
- Generating faster economic growth -- which would help greatly with the first long-term problem.
- Addressing the declining earnings and employment opportunities for less-educated adults in advanced economies.
- Managing the disruptions that will likely be caused by advancing AI and ML: fully autonomous driverless vehicles, a contracting set of dexterous/physical jobs, including manufacturing and personal services. And possibly much graver disruptions to the value of products produced using manual labor in the developing world.
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