Important news in the world’s economy on March 24, 2026:
1. Gold heads towards its longest historical decline: Gold prices plummeted on March 24, confirming predictions of a ten-day downward trend for the precious metal. This is likely to be the longest decline ever recorded for gold, with concerns related to the conflict in the Middle East weighing on global inflation and growth prospects.
2. Boao Forum for Asia: Asian economic growth expected to reach 4.5% in 2026: The Boao Forum for Asia released its “Annual Report on Economic Outlook and Integration Process in Asia by 2026” on March 24. According to the report, Asian economic growth is expected to reach 4.5% in 2026, remaining a key driver of global economic growth. China and the Association of Southeast Asian Nations (ASEAN) are the most attractive economies for foreign investment in Asia.
3. China’s energy transition frenzy: China is leading a clean energy revolution of unprecedented scale and speed. By 2024, China had installed about 360 GW of wind and solar energy alone, accounting for more than half of the total renewable energy capacity added globally that year. The country’s installed wind and solar capacity has reached about 1.4 TW, nearly a third of global capacity.
4. European recovery could face challenges: Escalating tensions in the Middle East have caused significant volatility in oil and gas prices, weakening an already fragile economic recovery in Europe. High fuel costs in Europe are beginning to impact essential goods prices, raising concerns that a prolonged energy shortage could lead to widespread inflation. The conflict’s repercussions are forcing governments and economists to revise their forecasts for the coming year, with most European economies lowering their growth projections for 2026.
5. Asia turns back to coal: Facing energy shortages and skyrocketing prices due to the Iran conflict, many Asian countries are increasingly turning to coal as a temporary solution. However, experts believe that this crisis could also accelerate the region’s transition to renewable energies.
6. Saudi Aramco continues to reduce oil supplies to Asia: According to sources, Saudi Aramco, the world’s largest oil exporter from Saudi Arabia, is currently only supplying Arab Light crude oil exported from the Yanbu port on the Red Sea to contracted clients until April 2026. This situation continues to cause supply shortages for Asian refineries and limit refined product production.
7. Turkey considers using its $135 billion gold reserves to defend its currency: According to sources, the Central Bank of Turkey is considering swapping gold for foreign currencies on the London market. This measure is seen as a strategic initiative to strengthen the liquidity of the exchange market in the face of the sharp depreciation of the national currency. As of early March 2026, Turkey’s gold reserves stood at $135 billion, with about $30 billion held at the Bank of England (BoE), allowing the Turkish government to intervene swiftly in the exchange market without logistical barriers.
8. Australia and EU finalize a trade agreement after eight years of negotiations: Australian Prime Minister Anthony Albanese announced on March 24 that his country had signed a free trade agreement with the European Union (EU) worth nearly $7 billion after eight years of talks. This agreement is expected to boost exports between the two parties amid global trade uncertainty.
9. China discovers the world’s second-largest rare earths deposit: On March 24, the Chinese Ministry of Natural Resources announced the discovery of the world’s second-largest rare earths deposit in Mianning County, Sichuan Province. This deposit adds 9.67 million tons of rare earth oxides to national reserves, an increase of over 300%. Additionally, China has discovered new resources in the Mao Niuping mining area, also in Mianning County: 27.14 million tons of fluorite and 37.23 million tons of barite. These two resources are classified as very large-scale deposits.
10. Japan: Inflation falls below target for the first time since 2022: According to data released on March 24 by the Japanese Ministry of Internal Affairs and Communications, the core consumer price index (excluding fresh products, which have volatile prices) rose only 1.6% in February 2026 compared to the previous year, the lowest increase since March 2022. This figure is below the 1.7% expected by economists and marks a significant drop from the 2.0% increase recorded in January 2026. It is worth noting that this is also the first time since 2022 that the index has fallen below the 2% target set by the Bank of Japan.
Source: Baotintuc.vn
