Lurching into 2023: Struggling for economic progress as global recession looms in 2023

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Struggling for economic progress as global recession looms in 2023

What’s in store for the global economy in 2023? Well, it’s not going to be pretty.

A raging war in Europe, sky-high inflation, and an unstable China will create strong economic headwinds in the year to come. But it’s not all doom and gloom. Ian Bremmer looks at the state of the global economy in this new year with renowned global economist, Dambisa Moyo, to put it all into perspective.

Global inflation is not going anywhere anytime soon as the likelihood of a worldwide recession looms large. And yet, for most of us living here on Planet Earth, now is the best time to be alive in human history. Globalization has brought prosperity to billions worldwide. And in the United States, the economy has made it out of the pandemic remarkably well.

But will out-of-control inflation, an unstable China, and a rogue Russia change this equation in 2023? Moyo discusses how these combined threats will affect the world economy this year.

“We’re now over 8 billion people. Issues around inequality, issues around supply, as well as climate transition energy issues, and debt. And so there are ongoing challenges, that we were already facing, but I think those things will be accelerated in 2023,” she explains.

Watch the full episode of GZERO World here.

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