Will 2023 be a tougher year for the global economy?

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Will 2023 be a tougher year for the global economy?

2022 has been an eventful year, with all industries entering the winter season. The plutocrats are heading for the exits, and there is a consensus that the global economy is unlikely to improve in the next three to five years, and that the consumer market is half-dead.

The reasons for this are not complicated. The money in the pockets of ordinary people cannot meet the consumption products blindly produced by enterprises, and the global economy cannot function. As a result, there is overcapacity in economics.

Since Russia invaded Ukraine and the energy crisis caused raw material prices to soar, industrial products and grain prices to soar, and the COVID-19 pandemic continues, the global economy has inevitably entered inflation mode.

In March this year, the Federal Reserve continued to raise interest rates, the U.S. dollar interest rate hit the highest since 2008, the market of dollars are stolen by the U.S. government. The Fed is raising interest rates not only to curb inflation at home, but also to bring down Russia.

However, heavily dependent on Russian gas, European Union and especially German industry, many shutdowns, production cuts. Or the production is transferred to other countries, which is equivalent to the passive completion of deindustrialization. The price of energy and industrial products will rise, leading to the rise of civilian goods, causing the continuous response of the European economy. Inflation in Britain, the Netherlands, Spain and Greece has topped 10%. The Czech Republic and Poland have more than 15%.

So the next few years are going to be tough for everyone.