Which economy did best in 2023?
Another unlikely triumph
Almost everyone expected a global recession in 2023, as central bankers raised interest rates to cool inflation. The consensus was wrong. Global GDP has probably grown by 3%. Job markets have held up. Inflation is on the way down. Stockmarkets have risen by 20%.
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This article appeared in the Finance & economics section of the print edition under the headline “Ladder of divine ascent”
From the December 23rd 2023 edition
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Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer
How Trump, Starmer and Macron can avoid a debt crunch
With deficits soaring, their finance ministers will have to be smart
What Scott Bessent’s appointment means for the Trump administration
The president-elect’s nominee for treasury secretary faces a gruelling job
What Donald Trump and Bernie Sanders get wrong about credit cards
Forget interest rates. Rewards are the real problem
Computers unleashed economic growth. Will artificial intelligence?
Two years after ChatGPT-3.5 arrived, progress has been slower than expected
Should investors just give up on stocks outside America?
No, but it is getting a lot harder to keep the faith