The global economy over the past few years can be summed up in one word: volatile. Shocks to the market spurred high inflation across the globe that is only now showing signs of moderating. Governments appear to be on the same page when it comes to trying to cool down their economies, adopting tightening measures across the board.
Managing this situation has proved extremely challenging, as governments have had to adapt quickly to rapidly changing circumstances. While there are signs of normalization, many governments now face greatly reduced fiscal buffers. Others, particularly developing economies, are teetering on the edge of a debt crisis. For many, the lesson of the past three years is the importance of low debt and large buffers against future shocks.
The Geopolitics of the American President