Expert predictions on inflation, sovereign debt defaults, and other potential concerns.
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December 16, 2022
Juan Moyano/Stocksy
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Summary. Three experts explore how the global economy will look in 2023. Though they agree there’s a chance inflation eases, there are major risks and it will take a long while before inflation gets down to central banks’ target levels. And there are other risks lurking too, from sovereign debt defaults to geopolitical rifts.
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One chaotic, disappointing year is ending. Another one is likely in store. In October, the IMF released its annual economic outlook projecting weak growth across the world in 2023. It placed particular emphasis on three issues: high inflation and central bank tightening, Russia’s invasion of Ukraine, and the continued effects of Covid—especially in China.
Read more on Economic cycles and trends or related topic Economics
Walter Frick is a contributing editor at Harvard Business Review, where he was formerly a senior editor and deputy editor of HBR.org. He is the founder of Nonrival, a newsletter where readers make crowdsourced predictions about economics and business. He has been an executive editor at Quartz as well as a Knight Visiting Fellow at Harvard’s Nieman Foundation for Journalism and an Assembly Fellow at Harvard’s Berkman Klein Center for Internet & Society. He has also written for The Atlantic, MIT Technology Review, The Boston Globe, and the BBC, among other publications.
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Read more on Economic cycles and trends or related topic Economics
