They aim to address two pressures at once: rapid demographic ageing and the need to boost domestic demand as economic growth slows.

At the centre of the plan is an expansion of elderly care services beyond traditional nursing homes. Authorities want care providers to scale up home-based services through chain operations that can be replicated across communities.

To support this, e-commerce platforms and large retailers are being urged to better match supply and demand for elderly care services, making them easier to access both online and offline.

The measures also seek to create new ways for seniors to spend. Community facilities such as county-level care platforms and senior activity centres will double as spaces to display, rent and sell age-friendly products.

Elderly care services have also been folded into China’s “15-minute convenient life circle” scheme, which aims to ensure essential services are within walking distance of residential areas.

By mid-2025, nearly 6,300 pilot life-circle zones had been established nationwide, benefiting around 129 million people , according to the Ministry of Commerce.

Authorities are also promoting the development of senior-friendly shopping streets, designed to combine retail with social, cultural and leisure activities.

The Ministry of Industry and Information Technology said it will prioritise the use of health monitors, rehabilitation aids and humanoid robots in homes, communities and care institutions.

To boost online participation, platforms are being required to optimise “senior modes” and launch dedicated silver-economy shopping channels.

More than 10 major e-commerce platforms have already been adapted to improve accessibility for older users.

Additional steps include senior discounts and themed shopping campaigns, aimed at encouraging more frequent consumer spending.

For Chinese officials, these measures signal a long-term shift, as the country prepares for the silver economy to become a permanent pillar of growth rather than a niche sector.

Some developing economies benefited from rebounds in energy production, strong remittances and post-crisis recoveries. Others were dragged down by violence, political instability and structural weaknesses. 

Global South World reviewed the International Monetary Fund’s (IMF) 2025 projections — a closely watched outlook produced by the Washington-based lender that monitors economic developments worldwide — to identify the year’s strongest and weakest performers.

BIGGEST WINNERS

Republic of South Sudan (24.3%)

South Sudan’s surge reflects a rebound in oil production following earlier pipeline disruptions and conflict-related shutdowns, amplified by a low base. The IMF cautioned that the recovery remains fragile and almost entirely dependent on crude exports, leaving the economy highly exposed to price and security shocks.

Libya (15.6%)

Libya’s growth was driven by higher crude output after repeated blockades eased, boosting exports and government spending. In May, the North African country recorded a 12-year high in oil production, reaching 1.23 million barrels per day, underscoring the economy’s continued reliance on hydrocarbons.

Guyana (10.3%)

Guyana remained one of the world’s fastest-growing economies as new offshore oil projects came online, lifting exports and funding public investment. This followed a 43.4% expansion in 2024, when oil production reached 225 million barrels. Spillovers from the energy sector continued to fuel construction, manufacturing and agriculture, while non-oil GDP rose 13.1%, driven largely by government-led capital spending.

Kyrgyz Republic (8.0%)

Growth continued to be supported by the services sector, which accounts for nearly half of GDP. In 2025, services, goods production and rising tax revenues emerged as the economy’s main bright spots, helping offset external pressures.

Tajikistan (7.5%)

Tajikistan’s expansion was underpinned by growth in services and industry, optimism over energy investments, strong consumer demand and private-sector activity. Real GDP rose 8.2% in the first three quarters of 2025, while inflation remained contained at 2.8% year on year in September.

BIGGEST LOSERS

Haiti (-3.1%)

Haiti’s economy continued to contract as gang violence, political paralysis and collapsing institutions disrupted trade, investment and basic services. It remains one of the poorest countries in the Western Hemisphere, with nearly two-thirds of the population living below the poverty line.

Myanmar (-2.7%)

Myanmar remained in recession amid ongoing civil conflict, sanctions and capital flight following the 2021 military coup. The economy also grappled with the aftermath of a March earthquake that triggered large reconstruction needs. Inflation is expected to stay above 20% in the near term, further straining household budgets.

Equatorial Guinea (-1.6%)

The contraction reflected heightened global uncertainty and declining hydrocarbon production. Despite falling output, poverty is projected to ease modestly — from 57.0% in 2024 to 55.8% by 2027 — supported by expansion in labour-intensive agriculture and services.

Yemen (-1.5%)

Yemen’s economy remained under pressure from protracted conflict and disrupted oil exports. In areas controlled by the internationally recognised government, inflation continued to erode purchasing power. In Houthi-controlled regions, airstrikes on key ports and persistent liquidity shortages further constrained imports and access to essential goods.

Botswana (-0.9%)

Botswana slipped into contraction as weaker global diamond demand weighed on exports and fiscal revenues, compounded by drought pressures. Rising debt risks prompted the government to introduce austerity measures, tightening conditions further.

South Africa has announced a historic change to its monetary policy framework, lowering the official inflation target from the long-standing 3 – 6 % range to a fixed 3 % target, with a ±1 % band. The move marks the first adjustment in 25 years and is intended to strengthen price stability, enhance investor confidence, and pave the way for lower long-term interest rates. Analysts have described it as one of the most significant economic policy shifts since the 1990s. The rand firmed following the announcement, reflecting positive market sentiment, although economists caution that fiscal discipline and structural reforms remain essential to sustaining the gains.

Trump’s claims of Afrikaner persecution

Finance Minister Enoch Godongwana has dismissed U.S. President Donald Trump’s allegations that white Afrikaners are victims of a “genocide” in South Africa, calling the claims “false and inflammatory.” Trump’s remarks, which also led to the U.S. boycott of the upcoming G20 Summit in Johannesburg, have been widely condemned by South African officials. Godongwana stated that the government’s land reform policies are lawful, transparent, and aimed at addressing historical inequalities — not targeting any racial group. He also accused Trump of “recklessly exploiting misinformation” for political purposes, warning that such rhetoric risks damaging diplomatic relations between Pretoria and Washington.

G20 Summit

South Africa’s Cabinet has confirmed that preparations are complete for hosting the G20 Leaders’ Summit in Johannesburg from November 22–23, the first time the event will be held on African soil. Despite the U.S. decision to skip the summit, the government insists it will proceed smoothly, highlighting the significance of Africa’s growing voice in global economic affairs. During the same Cabinet meeting, President Cyril Ramaphosa noted that the country added over 248,000 jobs in the third quarter of 2025, a sign of gradual recovery in key sectors such as manufacturing and construction. Ministers also reiterated South Africa’s commitment to inclusive growth, energy security, and fiscal reform ahead of the 2026 G20 presidency transition to the United States.

Vehicle sales surge in October

South Africa’s automotive industry recorded a 16 % year-on-year increase in vehicle sales in October 2025, signaling renewed consumer confidence and modest improvement in economic conditions. Data from the National Association of Automobile Manufacturers of South Africa (NAAMSA) revealed that both passenger and light commercial vehicle segments experienced growth, supported by improved credit conditions and inventory stability. Industry analysts, however, remain cautious, noting that persistent power supply challenges, low disposable incomes, and policy uncertainty continue to weigh on sustained momentum. The government has welcomed the figures as an indicator that its industrial support programs and trade incentives are beginning to yield results.

Economy could be in decline

A growing number of analysts believe South Africa’s economy may be on the cusp of a gradual turnaround after a decade marked by corruption scandals, energy shortages, and stagnant growth. Recent reforms in the energy, logistics, and financial sectors have improved investor confidence, while fiscal tightening has started to reduce budget deficits. Experts say the combination of a stronger monetary framework, improved governance oversight, and better infrastructure spending could help restore the country’s long-term growth trajectory. Still, they warn that entrenched corruption, unemployment, and sluggish productivity remain serious threats to sustained recovery. The coming year will be critical in determining whether South Africa’s reform agenda can deliver tangible results.