Toward 2023: Preparing For Tectonic Shifts In The World Economy – Analysis
Colossal structural shifts are taking place in the global economy, as evidenced by the huge challenges during the ongoing year. In 2023, China seeks recovery, but the West – the US, the Eurozone and the UK, and Japan – will cope with recession and the specter of a debt crisis.
In a recent Foreign Affairs commentary, Mohamed A. El-Erian warned that we are not facing just extraordinarily challenging business-cycle fluctuations, but structural and secular long-term pressures. As a result, “the global economy may never be the same.”