The global economy of 2023 is going to be a wild ride

2023: the long-term impact of money itself is being repriced and historic assumptions of the global economy are being overturned.
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By Stephanie Flanders

Not for nothing has this been dubbed the "dangerous decade." Already, a global pandemic, Russia's invasion of Ukraine and the return of inflation have shaken the 21st century global economy to its core.

After the shocks of 2022, a recession for large parts of the world in 2023 seems a safe bet. Tougher to gauge, and more frightening, is the long-term impact of money itself being repriced and the assumptions that underlie more than 30 years of global economic history being overturned.

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