The Global Recovery Winds Down
Misguided policies in China and Europe have compounded the effects of supply-chain disruptions and the war in Ukraine, thus putting an end to the global recovery from the COVID-19 pandemic. With little room for maneuver, policymakers must coordinate fiscal and monetary actions to tame inflation and improve long-term growth.
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ITHACA – The post-COVID recovery has run out of steam. The latest update to the Brookings-Financial Times Tracking Indexes for the Global Economic Recovery (TIGER) shows that growth momentum, as well as financial market and confidence indicators, have deteriorated markedly around the world in recent months. And as the global economy stalls amid heightened uncertainty and rising risks, many countries are either in or on the brink of outright recession.