International Economy Highlights on March 24, 2026:
1. Gold is headed towards its longest series of historical declines: Gold prices dropped on March 24, confirming predictions of a ten-day decline for the precious metal. This is likely to be the longest decline ever recorded for gold, with concerns over the Middle East conflict weighing on global inflation and growth prospects.
2. Boao Forum for Asia: Asian economic growth expected to reach 4.5% in 2026: On March 24, the Boao Forum for Asia released its “Annual Economic Outlook and Integration Process in Asia by 2026” report. According to the report, Asian economic growth is expected to reach 4.5% in 2026, continuing to be 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 magnitude and speed. According to Charles Bourgault, head of the energy sector at the World Economic Forum (WEF), China installed approximately 360 GW of wind and solar energy in 2024 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 around 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 are beginning to impact essential goods prices on the continent, 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 next year, with most European economies lowering their growth projections for 2026.
5. Asia turns back to coal: Faced with energy shortages and soaring 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 energy sources.
6. Saudi Aramco continues to reduce oil supplies to Asia: According to sources, Saudi Aramco, the world’s largest oil exporter from Saudi Arabia, currently only provides Arab Light crude oil exported from the Yanbu port on the Red Sea to its contracted clients until April 2026. This situation continues to cause supply shortages for Asian refineries and limits refined product production.
7. Turkey considers using its $135 billion gold reserves to defend its currency: Sources close to the matter have indicated that the Central Bank of Turkey has discussed the possibility of engaging in gold swaps for foreign currencies on the London market. This measure is seen as a strategic initiative to bolster the liquidity of the foreign exchange market in response to the significant depreciation of the national currency. As of early March 2026, Turkey’s gold reserves stood at $135 billion, with around $30 billion held at the Bank of England (BoE), enabling the Turkish government to intervene swiftly in the foreign exchange market without logistical barriers.
8. Australia and the EU finalize a trade agreement after eight years of negotiations: Australian Prime Minister Anthony Albanese announced on March 24 that Australia had reached a free trade agreement with the European Union (EU) worth nearly $7 billion, following eight years of talks. This agreement is expected to boost exports between the two parties amid global trade uncertainties.
9. China discovers the world’s second-largest light rare earth reserve: On March 24, the Chinese Ministry of Natural Resources announced the discovery of the world’s second-largest light rare earth reserve in Mianning County, Sichuan Province. This discovery adds 9.67 million tons of rare earth oxides to the national reserves, representing an increase of over 300%. Additionally, China has found 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 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 (CPI) (excluding fresh products, which have volatile prices) only rose by 1.6% in February 2026 compared to the previous year, marking the lowest increase since March 2022. This figure is below the 1.7% forecasted by economists and represents a significant decrease from the 2.0% rise 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% threshold set by the Bank of Japan.
Source: https://baotintuc.vn/kinh-te/diem-tin-kinh-te-the-gioi-noi-bat-ngay-2432026-20260324212857920.htm
