Is the economy going to be better or worse in 2023?

Several major economies could find themselves on an unsustainable debt trajectory unless they make painful fiscal adjustments. PHOTO: ISTOCKPHOTO
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It’s been a miserable year for the global economy. But things can always get worse.

History says the Federal Reserve’s high-speed interest-rate hikes may well tip the United States into recession in 2023. Few will be surprised if spiralling natural gas prices do the same for Europe. The double whammy of zero Covid-19 and a property slump threatens to bring China’s economy to a near standstill.

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