So far, the global economy has coped with the energy crisis and the rate hikes by the central banks much better than many expected. But the problems remain, too much optimism would be wrong now.
Of
Claus Hulverscheidt and Lea Sahay, Berlin
If all the horror scenarios that real and supposed economic experts painted on the wall after the Russian invasion of Ukraine had become reality, then things would look truly bleak in Germany and the world today: there would be waves of bankruptcies and state bankruptcies, power cuts and mass unemployment, government crises and bank failures. Instead, many people look at their gas, electricity and food bills with concern, but there can be no question of an apocalyptic mood. On the contrary: shops in the inner cities are still full, unemployment rates remain low in many places, and inflation rates are slowly declining again. So it’s no wonder that the first economic researchers are already predicting that the widely expected recession in the coming year will be much milder than expected or even fail to materialize at all.