Finance & economics | Putting out fires

How the world economy learned to love chaos

War, high interest rates and financial strife are yet to bring down growth

Ukrainian servicemen fire from 120 mm mortar during military exercises
Soaring rockets, not inflationImage: Getty Images

Central banks have embarked on austere monetary policy to crush inflation. Worries about the financial system, from bond markets to commercial property to the health of the banks, are ever-present. Some 4bn people will head to the polls this year, with unpredictable consequences. Most concerning of all, the world is on fire, with conflicts from Ukraine to Israel and the Red Sea. Other wars, not least in Taiwan, do not feel all that far away. Little wonder that analysts speak of “polycrisis”, “hellscapes” and a “new world disorder”.

This article appeared in the Finance & economics section of the print edition under the headline “Putting out fires”

From the February 17th 2024 edition

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