Opinion |
This is going to be a year of severe economic turbulence globally. It’s a perfect storm: prolonged war in Ukraine; high and rising inflation and public debt; currency wars; trade tensions; commodity shortages; and heightened uncertainty and asset prices volatility that may lead to financial instability. Central banks are moving their policy cycle from ultra-loose to tightening, increasing the risk of recession. Dollar investments are being taken back to the relative safety of the U.S. financial system. Policymakers in economies less risky than India are transparently communicating their struggles against the incredible complexities of these problems that have no easy solutions.
