The last time I was able to kid myself I had a clue about what was happening to the global economy was somewhere around early September 2008, before the financial meltdown of the sub-prime mortgage crisis plunged us all into an almost unprecedented spiral of uncertainty. More than seven years later, I take consolation from the fact that hardly any credible economists today would pretend to have any degree of certainty as to how things will unfold in 2016. But what is clear is that the aviation industry is facing another year of doubt about what will come to pass in just about all the key markets it serves, with much of this uncertainty being driven by factors such as the immeasurable impact of political instability and terrorist violence.
The latest Economic Outlook from the Organization for Economic Cooperation and Development (OECD) could not make this plainer. “A further sharp slowdown in emerging market economies is weighing on global activity and trade,” commented OECD secretary general Angel Gurría when the forecast was published on November 9. “At the same time, subdued investment and productivity growth is checking the momentum of the recovery in the advanced economies.”
Charles Alcock is managing editor of the AIN Media Group, having rejoined the company in 2019. He has been an aviation journalist since 1986, and previously worked for AIN from 1990 to 2017, most recently as editor-in-chief. His main focus is on covering new aviation technology and business models, as well as international news.
Having been raised in the London area, Alcock studied at the University of Manchester in the UK and earned an honors degree in Politics and Modern History. He speaks English and French, and some German.
