The year ahead will be defined by three main challenges: rising macroeconomic risks, climate change, and the digital disruption. Multilateral institutions have an important role to play, but so does the private sector.
LONDON – As 2021 ends, the global economy is being forced to adapt to significantly changed conditions. It will not be a quick or painless process. The world is facing major disturbances caused by disrupted trade links, soaring energy prices, and labor-market mismatches. While many retailers have closed their brick-and-mortar stores, driving up unemployment, there have been significant shortages of information-technology engineers and truck drivers.
LONDON – As 2021 ends, the global economy is being forced to adapt to significantly changed conditions. It will not be a quick or painless process. The world is facing major disturbances caused by disrupted trade links, soaring energy prices, and labor-market mismatches. While many retailers have closed their brick-and-mortar stores, driving up unemployment, there have been significant shortages of information-technology engineers and truck drivers.