Display: India’s economy ends better than it started in 2023

on the second day new year, It’s hard to get down and out. There is “something in the air”. So, I stand apart from my “dismal science” peers who predict the global economy will be around his 2023.

I’m going to stick my neck out and bet on seeing the world economy end in 2023 in much better shape than it did in 2022. We will reach a tipping point to match the pace of digitization and achieve one of the fastest growth rates in recent years.

inflation And growth will be the yin and yang of 2023. The good news is that governments and central banks have finally agreed that the only way to sustain economic growth is to keep inflation under control.and since then, as a slogan — was coined by James CarvilleThe man who masterminded Bill Clinton’s victory in the 1992 U.S. presidential election said, “It’s the economy, stupid,” and we both get traction.

2023 will be a year in which global and domestic economic conditions will determine our success or failure. It will be a year spent reversing the fight against inflation – fighting the resulting slowdown. But now that policymakers realize the need to balance growth and inflation, we will come out on top.

A rising tide lifts all ships. Economic growth therefore keeps people and their political leaders happy. Many pressing issues, including socioeconomic and geopolitical tensions, are swept under the carpet, making for a sure recipe for peace and prosperity.

Not if you believe the apocalypticists led by Nouriel Roubini aka Dr of New York University’s Stern School of Business. Doomwrote recently, “We are teeming with new mega-threats (political crises?).”ChinaRussia, Iran, north korea) to challenge the economic, financial, security and geopolitical order established by the United States and its allies after World War II.

The danger of nuclear war, not just war between great powers, is skyrocketing…with the Chinese president Xi Jinping Further strengthening his authoritarian rule and the US tightening trade restrictions on China, the new US-China Cold War is getting colder by the day.. Meanwhile, a nuclear-armed North Korea is flying over Japan. It is again attracting attention by launching rockets.And South Korea. Even minus the threat of nuclear conflict, the risk of future environmental damage is becoming more and more serious…As it turns out that gathering the metals needed for the energy transition requires a lot of expensive energy, green fuel rations are already in full swing. The risk of new pandemics is also increasing.

Roubini can be an overly depressing read. But he’s not the only one worried about 2023.multilateral institutions and many respected economists, including those usually optimistic Swaminathan Aiyarsounded equally alarming.

The first few months will be tough. 2022 was the year that central banks (belatedly) woke up to the dangers of rising inflation. But the inevitable economic slowdown resulting from their actions (read: monetary tightening) will eventually keep inflation in check and lay the foundation for sustained growth. US inflation has already fallen to he 7.1%. In the UK he is 10.77%. In India, retail inflation reached its lowest level in 11 months at 5.9%.

So the good news for the new year is that inflation is trending down and growth is trending up. Slowly at first, gaining momentum as the years progress. Joe Biden The US-China economic war will continue to affect oil prices, but US foreign policy will become more pragmatic. The war in Ukraine will continue as a protracted, low-key struggle, long enough to satisfy the U.S. arms industry, and low-key enough to pose no serious threat to world peace and prosperity.

Not much progress has been made on climate change. Goals will not be met and promises will be broken, even if climate change continues with catastrophic events. But the reality of climate change, rather than its previous denials, will become more accepted. It’s progress no matter how you look at it.

Many things change. After all, the realization that Big Tech isn’t that big is a new learning, as is disillusionment with crypto. It is nothing more than the wishful thinking of a few who refuse to accept the world, but the world is one, even as many seek to divide it into “pieces” by narrow domestic walls.

India’s theme for the 2023 G20 Presidency, ‘One Planet, One Family, One Future’, may sound esoteric, if not idealistic. But after all, he will end 2023 with the global economy in much better shape than it is today. It may sound like a dreamer. But I’m not the only one.


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