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The global economy faced many challenges last year but what can you expect in 2023? While countries continued to deal with the ongoing effects of the COVID-19 pandemic in 2022, soaring inflation led to interest rate hikes, while stagnating pay resulted in industrial action in many regions. The cost of living crisis has affected households and businesses around the world. As 2023 begins, many of these conditions are expected to continue and recession is now predicted for much of the world.
To explain what this will mean for the global economy and you, our international network of business and economy editors has asked academic experts for their thoughts on key economic issues including the rising cost of living and industrial action. We will also publish a series of deep dives into the major drivers of the global economy right now, including inflation, energy, food and the global supply chain.
And if you are interested in receiving similar insights throughout 2023 and beyond, you may wish to subscribe to our Global Economy Newsletter.
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This could get ugly.
Shutterstock/Nataletado
Steve Schifferes, City, University of London
Central banks are raising interest rates to tame inflation, but 2023 will increasingly turn a technical decision into a political challenge.
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National identity: despite Moscow’s best efforts, Ukrainians are increasingly looking to the west for their future.
Oleksii Chumachenko/SOPA Images via ZUMA Press Wire)
Kristin M Bakke, UCL; Gerard Toal, Virginia Tech; John O’Loughlin, University of Colorado Boulder; Kit Rickard, UCL
Moscow’s fears that Ukraine was turning towards the west prompted the invasion. This has backfired dramatically.
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Damar Hamlin, #3, collapsed on the field after making a tackle during a game on January 2, 2023.
Dylan Buell via Getty Images
Wendy Tzou, University of Colorado Anschutz Medical Campus
Disruptions to the electrical signals that control a person’s heartbeat are dangerous, no matter the cause. A heart doctor explains the biology of cardiac arrest and what might have happened on the field.
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Adi Imsirovic, University of Surrey
Government attempts to manage energy prices could actually create more volatility in oil and gas markets.
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Brittany Lambert, Indiana University; Brianna Barker Caza, University of North Carolina – Greensboro; Erin Reid, McMaster University; Susan Ashford, University of Michigan
Gig workers navigate the challenges of solo work by seeking out relationships and cultivating skills to cope with emotional turbulence
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Charlotte Pennington, Aston University; Daniel Shaw, Aston University
A new experimental task reveals distinct styles of engagement on social networking sites associated with different perceptions of social connectedness.
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Natalie Collins, The University of Queensland; Bill Vicenzino, The University of Queensland; Kathryn Mills, Macquarie University
Thinking of trying barefoot running? We investigated a new strategy to switch from traditional shoe to barefoot running, and why barefoot running may work for some runners but not others.
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Christopher Gaffney, Lancaster University
Despite years of study, evidence on whether it’s possible remains mixed.
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Caitlin Bianca Rabe, University of Cape Town; Alberto Valenciano Vaquero, Universidad de Zaragoza
A closer look at these fossil bones revealed more than the suggestion of a previously undescribed species - it pointed to the individual animal having suffered with osteoarthritis.
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Richard Hargy, Queen's University Belfast
Breakaway Republicans are blocking the election of a new speaker of the US House of Representatives.
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Martyn Smith, University of Sheffield
In the early decades of the 20th century, people grappled with the sounds modernity wrought. Some heard only noise. Others found great beauty.
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