How China’s shifting growth picture could hit global markets
A shopping mall in Qingzhou, Shandong province, broadcasts the opening ceremony of China’s National People’s Congress on Sunday, March 5, 2023.Future Publishing | Future Publishing | Getty ImagesChina’s economy will be forced to recalibrate because of a “fractured” global order, and the new drivers of growth will “disappoint” global markets, according to David Roche, president […]
IMF chief warns world is a very different place after crises like Covid
‘Think of the unthinkable’: IMF chief warns world is a very different place after crises like Covid.Bloomberg / Contributor / Getty ImagesThe Managing Director of the IMF warned that we need to “think of the unthinkable,” as we live in “a more shock-prone world” impacted by the Covid-19 pandemic, Russia’s invasion of Ukraine and the […]
IMF hikes global growth forecast as inflation cools
The IMF has revised its global economic outlook upwards.Norberto Duarte | Afp | Getty ImagesThe International Monetary Fund on Monday revised upward its global growth projections for the year, but warned that higher interest rates and Russia’s invasion of Ukraine would likely still weigh on activity.In its latest economic update, the IMF said the global […]
Richest 1% amassed almost two-thirds of new wealth created since 2020: Oxfam
Skyline in lower Manhattan.Gary Hershorn | Corbis News | Getty ImagesOver the last two years, the richest 1% of people have accumulated close to two-thirds of all new wealth created around the world, a new report from Oxfam says.A total of $42 trillion in new wealth has been created since 2020, with $26 trillion, or […]
Global economy going into recession, 2023 growth to slow
The World Bank slashed its global growth forecasts from projections it made in mid-2022 on the back of what it sees as broadly worsening economic conditions.The international development institution downgraded almost all of its forecasts for advanced economies in the world, cutting its growth outlook for the global economy to 1.7% for 2023, it said […]
Why everyone thinks a recession is coming in 2023
People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), at an Arkansas Workforce Center in Fort Smith, Arkansas, U.S. April 6, 2020.Nick Oxford | File Photo | REUTERSRecessions often take everyone by surprise. There’s a very good chance the next one will not.Economists have […]