Global economic year-end review

World Today

Global economic year-end review

2022 was the year the world got a rude awakening by something that had largely disappeared from many countries: inflation.

Just when supply chain crisis that defined the early pandemic recovery started to ease, many policymakers were surprised when inflation proved “stubborn” instead of “transitory,” as the Federal Reserve had predicted.

Then came the economic shock of Russia’s attack on Ukraine.

CGTN’s Owen Fairclough looks back at a year that looked and felt a lot like the early 1980s.