5 major risks confronting the global economy in 2024

• Comfort Oshagbemi and David Wessel at Brookings examine why the U.S. spends substantially more on transportation infrastructure compared to other countries, highlighting limited state DOT capacity and over-reliance on consultants as key cost-drivers.
• The authors argue that limited competition and insufficient bidder outreach in the market for government construction contracts contribute to higher infrastructure costs in the U.S., and increasing bidder outreach and improving project planning can significantly reduce these costs.

• 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.

• Israel conducted a precision strike on an Iranian air defense system, signaling its capability and restraint to avoid broader conflict.
• The attack was a response to an unprecedented direct missile and drone attack by Iran on Israeli soil, marking a significant escalation in their long-standing tensions.

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• Brookings Foreign Policy Fellow Valerie Wirtschafter examines the growing influence of Russian state-affiliated accounts on TikTok and compares it with their presence on other social media platforms like Telegram and X (formerly Twitter).
• Russian state-affiliated accounts are leveraging TikTok's reach to disseminate state-backed narratives.
• Despite lower overall activity compared to other platforms, the engagement per post on TikTok is significantly higher.

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• Brookings expert William A. Galston reviews four recent polls of U.S. voters on the economy, comparing Biden and Trump on their economic records.
• Sixty-five percent of voters rate the economy as good during Trump’s presidency, compared to 38% under Biden.

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