5 major risks confronting the global economy in 2024

• James Pethokoukis at American Enterprise Institute writes that the newly announced Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy, will act as an external consulting group to the Trump White House, aiming to provide recommendations to streamline government operations by July 4, 2026.

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• The commentary argues that Washington policymakers should examine actionable proposals for improving healthcare, Social Security, and tax reform. These policies emphasize market incentives, fiscal responsibility, and economic growth, as discussed in the AEI report "A Balanced Plan for Fiscal Stability and Economic Growth."

• William H. Frey at Brookings writes that despite claims of a multiracial transformation, Trump's support remains predominantly among white voters, with only modest gains among Latino or Hispanic voters and minimal shifts among Black voters.
• The analysis asserts that the long-standing racial voting divide persists, with Democrats retaining significant support from Black and Latino or Hispanic voters, questioning any significant transformation of the GOP voter base.

• Pew Research Center report shows that the presidential race between Harris and Trump is currently deadlocked, with each candidate receiving 49% support among registered voters. Voters regard Trump as stronger on the economy while Harris is preferred on abortion and personal traits like honesty.
• The survey asserts that voters are divided on Trump’s actions related to the 2020 election and his age. Additionally, Harris would make history if elected, being the first woman, Asian American, and Black woman president, while Trump would become the oldest person to assume office at 78.

• Samantha Gross and Louison Sall at Brookings argue that Donald Trump advocates for a shift in U.S. energy policy, focusing on fossil fuels, reducing regulations, and opposing renewable energy initiatives to lower energy costs and achieve "energy dominance."
• The article asserts that Trump's ability to implement his energy agenda depends on Congress and the courts, with recent Supreme Court decisions potentially aiding his deregulatory efforts in a second term.

• Bryan Burack at Heritage Foundation writes that the Trump administration's significant foreign policy legacy was its strategic response to China's economic warfare against the U.S., emphasizing the importance of maintaining these measures for deterrence.
• The article asserts that the Biden administration has adopted a less assertive approach, reviving engagement policies with China due to concerns that aggressive economic protections might provoke conflict, which has led to counterproductive security tradeoffs.