Currently, there are signs of a new global crisis in the global economy. Increasing energy prices in Europe and China in 2021 and increasing sanctions pressures against Russia in 2022 and 2023 were cited as the main reasons. opens words of an independent expert in the field of industry and energy Leonid Khazanov “Lenta.ru”.
“The fears of a lost decade in the global economy are justified. In 2021, when energy prices rose, economic problems began with the energy crisis in Europe and China. Then it turned into a sanctions crisis with Russia and now there is a banking crisis,” he said.
In the current situation, after the collapse of the major investment lender Silicon Valley Bank and Swiss Credit Suisse in the United States, a possible decline in the real incomes of the population and the massive bankruptcy of Western banks cannot be excluded. At the same time, the list of potential problems for the global economy is not limited to these risks – further development could be “anything,” he concluded.
March 28, World Bank Chief Economist Indermit Gill declarationThe “lost decade” in the world economy may come. This will adversely affect the solution to the fundamental problems facing leading countries: chronic poverty, income inequalities and climate change.
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.