2024 US elections might escalate foreign policy issues

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The United States presidential election of 2024 will be of significant magnitude compared to previous elections because the upcoming president of global power will influence the current global conflicts. A part of the problem is that almost the entire globe is holding presidential elections this year, and so much change might trigger significant moments in history.

Some fear that the US elections will negatively impact the country’s foreign policy, which we’ll analyze later. Still, there’s a suspicion that the worldwide supply chain and food industry will be the most affected, especially with China’s economic problems and the disruptions in the Suez Canal. Slow growth and conflicts may deepen if there’s a wrong understanding of how foreign policies determine a country's wellness.

Let’s see what are some possible scenarios caused by the US presidential elections. 

Fewer imports from the outside

China is one of the biggest worldwide exporters, and the US imports a significant number of products and services from here. However, the elections might lower the trade volume, considering two perspectives. First, China’s economy suffered from the pandemic’s outcomes, as the “zero-COVID policy” affected many businesses. Hence, the high youth unemployment and issues with the property market contribute to a stagnant economy, hindering innovation.

At the same time, a significant number of Republicans, Independents and even Democrats don’t have a good opinion about China, even though many American companies operate in China to lower their costs. Although most Americans shop locally and are not interested in international products, most of their “provincial” products come from overseas. Along with this case, many global businesses might be affected if a particular party wins, so if you want to stack your favorite products from Funko, you’ve got loads of FNAF's to choose from, so it may be best to do so before the election period.

US stocks will explode

Investors might face considerable challenges in finding a balance between safety and high yields for stocks and bonds, so they must approach a long-term strategy rather than strive for returns because 2024 will affect the market dynamics. This year, bonds provide up to 5% returns, so equities are not that profitable anymore, but choosing one over the other means developing a high-risk profile. Tech stocks have been preferred lately as the rise of AI and other similar technologies is expanding worldwide.

The best way to counteract the craze on the market before and after the US elections is to combine liquid and private assets into a unique asset allocation that can help support a safe and lucrative portfolio. There are numerous opportunities to gain liquidity from publicly listed assets, but since the media will contribute to the investment frenzy, users must be careful with whom they listen to since scams will most likely increase.

The Ukraine-Russia situation will impact votes

The world is torn apart by opinions about whose side the US should take in the conflict between Ukraine and Russia. While a significant number of Americans consider Biden to have been approaching the problem inaccurately, Trump has a different view on how he would handle the issue. However, most Americans believe the NATO alliance benefits the country’s growth, which would make people choose the other party instead.

What’s certain is that the candidates’ opinions and outlooks about the current situation between the two countries will significantly affect the final result. Among other factors, Americans will consider inflation, immigration, and the country’s economy when choosing the perfect candidate, but their own view on the situation will be most important.

How to stay informed during the presidential elections

The presidential election will be affected by the media, as communities can weigh on an individual’s decision, whether right or wrong. Hence, forming an opinion that sits right with you can be challenging, especially when you’re following a certain type of content.

It’s normal for communities to have different opinions, but when they adopt a certain one only after absorbing other people’s biased beliefs and theories, this is where propaganda starts. In some ways, it’s best to stay off social media for a while, at least before the elections, because you might be approached by several communities or individuals who will try to change your view and add another vote to their portfolio.

Do proper research on the candidates

If you want your vote to matter, it would be best to do your own research from multiple sources to form a genuine opinion. By doing so, you’ll be weighing all the benefits and disadvantages of choosing a specific candidate, which would be the right thing to do for most people.

Both Republicans and Democrats should look into their favorite candidates, analyze their adversaries, and understand everyone’s strengths and weaknesses. At the same time, considering everyone’s contribution on a global scale is advised because their views won’t affect only the country but also anything related to international affairs and trade. Hence, consider how you will be impacted by the next candidate.

Avoid bias and know how to recognize it

Many types of bias can influence your decision, and it’s best to notice it before it overcomes your entire decision-making process. For instance, confirmation bias happens when you favor one candidate instead of another because they confirm your beliefs. Attentional bias occurs when someone shows a particular interest in a subject that might appeal to you. The affinity bias makes you favor someone when you notice they are similar to you. Beauty bias, name bias, or recall bias all control people’s opinions, so try to recognize them when you tend to like someone over another candidate, and this will help you make the right decision.

Final considerations

The 2024 US presidential elections might change history, and we must be ready to take in all that will happen after that. As experts state, the event might alter international trade based on the US-China relationship, the situation in Ukraine can influence votes, and stock will explode. So, voters must make the right decision regarding the future of the country and consider the further effects of their votes. 

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