Not great because central banks face a balancing act between cutting interest rates too quickly and reigniting inflation, and keeping them too high and plunging their economies into recession. Not great because the early weeks of 2024 have led to a wider Middle East conflict, with implications for one of the world's main trade routes. And not great because - as Davos showed - the global economy is deeply fractured.
Inevitably, there is a risk that things will turn out badly in 2024. One leading global policymaker, speaking privately, said that repeated blows since 2020 meant it would be wise to be braced for the next surprise shock. Only the most incurable Davos optimist would quibble with that.
Washington and Beijing are in a grim struggle for economic supremacy. The gap between north and south is widening, and liberal democracy is being challenged by a new breed of autocrats. The planet continues to heat up. In a week that marks the 100th anniversary of Lenin's death, there are once again competing visions of what constitutes progress and success.
Even so, the death of globalisation has been much exaggerated. The reach of the multinational companies and the banks that continue to flock to the WEF were evidence of that.
As is the rapid growth of artificial intelligence (AI), part of a tech revolution that cuts across borders and which is leaving national regulators floundering in its wake.
Bu hikaye The Guardian dergisinin January 22, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Guardian dergisinin January 22, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Swiss police make arrests over reported death in 'suicide' pod
Swiss police have opened a criminal investigation and arrested a number of people after the suspected death of a woman in a so-called suicide capsule.
Durán on target from the spot as Aston Villa pass nervy test
As Emiliano Buendía wheeled towards the nearest corner clenching his fists in celebration, in front of the bank of 1,848 travelling Aston Villa supporters, it was the kind of cathartic moment he longed for on the darker days of his recovery from an anterior cruciate ligament knee injury.
Bolton recall spirit of Allardyce era in pursuit of upset
Wanderers had a reputation for riling Wenger's Arsenal in the early 2000s and they are hoping for another shock
Brook unbowed with masterful ton to drive England home and dry
On a chilly night at Chester-le-Street came an England performance to warm the cockles of the hardy home supporters.
England set to name El-Abd as defence coach after Jones exit
Steve Borthwick is expected to appoint Joe El-Abd as England's new defence coach following Felix Jones's shock resignation amid a summer of upheaval.
Union anger after Boeing makes 'divisive' final offer to end strike
A union representing 33,000 striking Boeing workers has reacted with anger at what the aircraft maker called its \"best and final\" pay offer of a 30% rise over four years.
Brexit checks put plant and flower trade with EU at risk, say UK firms
Exporters of plants and flowers from mainland Europe are turning their backs on supplying Britain as \"painful\" new Brexit border checks are pushing some trading relationships to \"breaking point\", garden centres and nurseries have warned.
Tui expects leap in profits as winter trip bookings rise
Europe's largest travel company expects its annual profits to rise by at least a quarter, helped by people spending more on winter breaks to sunny destinations such as Egypt, Cape Verde, Thailand and Mexico.
Interest rates unlikely to go to near-zero again, Bank governor says
The governor of the Bank of England, Andrew Bailey, has said he expects interest rates to fall gradually but warned consumers not to expect a return to near-zero levels.
Firms question pre-budget timing of investment event
Business leaders have warned that the government's plans for a major global investment summit are in danger of falling flat, amid growing frustrations over the high costs of involvement and its timing two weeks before the budget.
