The year 2024, which begins in just 6 weeks, will be one of great political effervescence, since there will be elections in countries of great geopolitical and, of course, economic relevance.
Of course, for us the most important will be the presidential election in Mexico which, almost certainly, will lead a woman to the Executive branch for the first time in history.
But we cannot leave aside the elections that will occur in other latitudes since, as recently happened in the election in Argentina, the economic strategy of a country can be modified, as Javier Milei, who will be the new president of Argentina starting December 10.
Economy and politics
The relevance of elections in countries that have global or regional influence has always attracted the attention of the markets.
To not go too far, let’s take the example of our country.
Without necessarily talking about politics, the markets have long been more than interested in the Mexican electoral process next June, as our country is one of the 20 largest economies in the world and is a neighbor and trading partner of the United States. Of course, Mexico is also a regional power in Latin America, the second largest economy only behind Brazil.
Given all this data, it is evident that the Mexican electoral process is positioned as a relevant event for the markets because, depending on who wins, part of the economic model that the country will have for the next 6 years will be known, to mention one of many relevant data. .
These are the 14 territories where there will be elections in the world in 2024:
January: Taiwan
February: Indonesia
March: Russia, Iran, Ukraine and Egypt
April: India, South Korea
May: South Africa, European Union
June: Mexico
September: Japan
November: USA
December: United Kingdom
40% of the world population will vote
An analysis by Franklin Templeton related to the voting year that will be 2024, indicates that in that period something like 40 percent of the entire global population will go to the polls.
Likewise, the most important markets in which there will be elections represent approximately 70 percent of the planet’s stock market capitalization.
According to Franklin Templeton’s analysis, the year will begin with the elections in Taiwan, and these elections are relevant because, it is worth remembering, China does not recognize this country as independent but as part of its territory, which maintains constant pressure in the region and contributes to global uncertainty.
Towards the end of the first quarter there will be elections in Russia and Ukraine, two nations at war. Experts consider that it is highly probable that by then two years will have passed since the first armed confrontation in Europe since the Cold War.
A little later they will go to the polls in Iran, a global oil power and, above all, a staunch enemy of Israel, the latter country has unleashed a war against the terrorist group Hamas, which they say is financed by Iran. The elections in Iran will only inject more volatility and uncertainty into a region always in conflict.
Of course and as we already mentionedthe presidential election in Mexico will be of capital importance for the planet.
There will be some more relevant elections in countries like South Korea and England.
But, we will close the global election year at the beginning of November with what we could call the “mother of all elections,” the presidential election in the United States.
It goes without saying how relevant this latest event is for the planet when it comes to the number one economic power.
Thus, everything indicates that to the problems that already generate uncertainty in the world’s economy, we should add that almost 50 percent of the planet’s population will be involved in electoral processes, with all that that implies.
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