Economics
The Global Pillars of Prosperity Are Getting Increasingly Shaky
The world’s economic and political leaders have been spoiled for decades by low inflation, minimal borrowing costs and huge Chinese growth.
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Over the past few decades, the world’s economic and political leaders were spoiled by relatively low inflation and minimal borrowing costs, a supercharged economy in China driving demand and generally modest geopolitical tension. But as we know, all of that’s changed. With inflation soaring, Chinese growth slowing and Russia waging war on Ukraine, Bloomberg Chief Economist Tom Orlik contends the pillars that long underpinned rising prosperity have shifted.