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
Gift this subscriber-only story to your friends and family

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.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Follow ST on LinkedIn and stay updated on the latest career news, insights and more.