Global Economic Outlook 2023
Economic Growth, Opportunities and Challenges in Global Markets
- 12 October 2022
The global economy had barely been given a chance to recover from the aftermath of the coronavirus pandemic when the Russo-Ukrainian War broke out, sparking food and energy crises. The world emerged from the pandemic with stubborn inflation, particularly in the United States and major European economies, which has triggered tighter global financial conditions and led to slower growth.
These economic challenges have impacted two of the world’s three largest economies, the US and China, with the implications for Japan being less severe. China, the world’s second largest economy, is particularly vulnerable, as the slowdown has been worsened by the implementation of further measures to curb COVID-19, specifically additional lockdowns.
With just three months until the end of the year: What position will we be in as we enter 2023? What are the main risks to the global economy? Where will the US-China tech war take us? Can the energy and food crisis be resolved? Will countries be able to curb rampant inflation? If so, in what ways will global economic growth be impacted?