After two years of absence, the reunion in Davos does not take place under the best auspices. The many threats that weigh on the world economy are indeed of all the debates. And some participants even go so far as to openly mention the risk of a general recession.
With our special correspondent in Davos, Mounia Daoudi
The lights are clearly red for the global economy which is facing at least four major crises, say experts in Davos.
The most visible, inflation, which has never been so high in forty years. And this surge in prices is not only affecting consumer morale but is weighing on companies to the point where, cornered, the main central banks have all committed to raising interest rates, the first in fourteen years. No more easy money.
Another crisis which paralyzes the economies, that of energy, the most serious that the world has known, insists Fatih Birol, the head of the International Energy Agency. Oil, gas, coal no sector is spared. And with the war in Ukraine, it’s hard to imagine a short-term solution.
A war that is fueling tensions on the prices of agricultural raw materials and fueling a third food crisis, this one. And then there is the climate crisis, which some fear will be relegated to the background
Four intertwined crises that will have to be tackled simultaneously at the risk of seeing the world sink into a general recession.