Investors should brace for another turbulent year in the financial markets, economists have warned as central banks fight inflation, China reopens its economy after Covid-19 restrictions and the Ukraine war pushes the global economy towards recession. The first half of the new year is likely to be choppy, according to Wall Street predictions, after global markets suffered their biggest fall since the 2008 financial crisis last year. But the US S&P 500 is still expected to end 2023 a little higher than it began the year. The average target of…
Tag: Kristalina Georgieva
IMF warns China over cost of Covid lockdowns
China, the world’s second largest economy, should review its zero-tolerance approach to the pandemic or risk damaging the global recovery, according to the head of International Monetary Fund. Kristalina Georgieva said Beijing should reassess the use of lockdowns to limit the spread of the highly contagious Omicron variant since it became clear the harm to human health was less severe than the Delta variant. Speaking at the World Economic Forum on a virtual panel, she said that while the hardline approach had contained the pandemic in China for “quite some…