New Economy Forum
What If Everything Goes Wrong At the Same Time?
A destroyed apartment building in the village of Archangelske, Kherson Oblast, Ukraine.
Wolfgang Schwan/Anadolu Agency/Getty ImagesThis article is for subscribers only.
For the world economy, 2022 has been a terrible year. The combined hits from Russia’s invasion of Ukraine, China’s Covid-19 lockdowns and property correction, and amped-up Federal Reserve tightening will take global growth for the year down to 3.1%, way below expectations of a recovery-boosted 4.7% at the start of the year.
Could 2023 be worse? Absolutely.