AFTER two years marked by disruption, loss and start-stop reopenings, 2022 saw the gradual return of our pre-Covid lifestyles. Unfortunately, 2022 is also a year when inflation is very high, interest rates are still rising and growth expectations are falling. Geopolitical tensions, financial stresses and the legacy of Covid-19 added to the uncertainty. Russia’s invasion of Ukraine, China’s approach to managing Covid-19 and even the financial instability spurred by the UK’s “mini budget” affected global economies through multiple channels. 2022 has not been kind to investors, to say the least.
As we enter 2023, the world economy is decelerating. The US is still in expansion mode, but...
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