After a year in 2020 affected by the economic shock of Covid-19, 2021 brought a vigorous economic recovery which created supply-chain bottlenecks. Although the global economic recovery is continuing, 2022 has already brought the first of its own economic challenges:
Disrupted supply chains, high inflation, record debt. Uncertainties include the impact of the Omicron variant – which seems to have milder symptoms – questions over the adoption of the massive ‘Build Back Better’ stimulus programme in the USA, the continued weakness in the Chinese real estate sector and the risks associated with a possible conflict between Ukraine and Russia. For the time being, the global economy is expected to grow by 4.4% in 2021 and 3.8% in 2022.
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