As the U.S. presidential election approaches, a potential Trump victory raises concerns among elites due to the uncertainty it brings, contrasting with Harris's status quo stance. Analysts warn that a Republican sweep could lead to market volatility, higher inflation, and a stronger dollar, prompting investors to sell into any post-election rally. Additionally, a Trump win may trigger forex market fluctuations, with China possibly devaluing the renminbi to safeguard its exports.
The Unified Payments Interface (UPI) has revolutionized India's digital payment landscape, increasing digital transactions ninefold since its launch in 2016. Its share in digital transactions surged from 4.4% in FY18 to 70% in FY24, positioning India ahead of its BRICS counterparts in transaction volumes. Prime Minister Modi's advocacy for UPI among BRICS nations highlights its potential to facilitate a cashless economy, with India recently partnering with the UAE for UPI transactions.
The 2024 U.S. presidential election could significantly impact entrepreneurs globally through three main channels: U.S. macroeconomic variables, trade policy, and geopolitical relations. The election outcome may influence expectations around GDP growth, inflation, and interest rates, as well as the U.S.'s trade relations and its role in the global geopolitical order. Entrepreneurs must prepare for potential challenges and opportunities arising from these shifts.
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