FT’s Martin Wolf: What I learnt in my days on the mountain in Davos
By Martin Wolf of the Financial Times
One always learns something from the World Economic Forum. At the very least, one learns what rich and powerful people think is happening. They may be wrong: indeed, they often are. The world is, as we have recently been reminded, full of surprises. But here are my reactions.
The business people are feeling more cheerful. Yes, they are still suffering from the legacies of Covid, the inflationary post-pandemic reopening and Russia's assault on Ukraine. They are still threatened by the hostility between the US and China. But the news has been more positive: Ukraine has been doing better in its fight for survival; the lunatics fared worse than expected in the US midterm elections; gas prices have tumbled; headline inflation may have peaked; recession worries have lifted; and China has reopened.
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