In a context of high fossil fuel prices, global investments in clean energy will continue to rise and renewable capacity is expected to almost double in the next five years. The war in Ukraine forced European countries to reduce their reliance on Russian coal, natural gas and petroleum in 2022. Europe will continue to reduce its reliance on Russia in 2023 to achieve its energy and climate goals.The rivalry between US and China will constrain merchandise trade and could fuel inflationary pressure in the US. Despite an increase of US imports from China in 2022, the relative share of merchandise imports from China, foreign direct investments and scientific collaborations suggest a continued decoupling of both economies. US and China will continue to decouple some sectors of their economies.Tight financial conditions will increase pressure on highly indebted governments and businesses, amplifying vulnerabilities and deterring investments and trade flows. Amid lower growth and high inflation, trade growth is expected to decelerate in 2023. Trade is expected to slow down in 2023.This could reap the benefits of global trade.
There is evidence of decoupling between China and the United States but also Russia and Western countries. Despite growing concerns, globalisation has not reversed but is changing.Trade rebounded in 2022 but was disrupted by the war in Ukraine, lingering COVID-19 restrictions, persistent high inflation and lower economic growth.
0 kommentar(er)
