Year 2023 Picture: After the Kovid epidemic dominated the world for 2 years, now due to the Ukraine-Russia war, the world is in trouble. At this time, the new year i.e. year 2023 is going to start in the world and before that it is necessary to pay attention of the world to these four things.
1. What will be the effect of this dispute at this time.
2. Paying attention to the ongoing struggle to control inflation.
3. Dealing with Ongoing Disturbances in Energy Markets
4. China’s uncertain situation after the epidemic
Fear of recession of the global economy
The editors of the Collins English Dictionary have named “permacrisis” as their word of the year for 2022. It means a time of instability and insecurity that is becoming widespread. This is a continuation of this, in which it is being feared that the pace of the global economy is slowing down and it will come under the grip of recession in the year 2023.
fear of inflation
Due to the crunch of money, the dollar is being strengthened and due to this there is a danger of inflation reaching the emerging markets. Due to this, there is a problem in repaying the debt existing on the countries.
The next year will be of battling inflation and economic stagnation, due to which the fear has increased-
Some CFOs were interviewed by Deloitte and 39 percent CFOs fear that the US will be in the grip of recession and 46 percent fear a global recession. In the year 2022, McDonald’s increased the price of its cheeseburger in the UK and this has been seen for the first time in 14 years.
How will be the GDP of the world
The year 2023 will require strong pricing from strong brands, and at the time of 2023, super forecasters predicted the world’s GDP to be between 1.5% and 3% and China’s between 3.5% and 5%. In the year 2022 i.e. after the Kovid crisis, the trend of eating in golden sunshine holidays and fancy restaurants is increasing again, which is benefiting the economy. However, it looks like this bright economy may fade in 2023 due to higher energy bills and higher mortgage payments due to higher interest rates.
What is the hope for Britain
Britain’s productivity was the second best between 1997-2007, although it has come down to the second worst between 2009 and 2019. Britain’s National Health Service is in bad condition and this epidemic has become worse than the previous situation. From 42 lakh people before the epidemic, 68 lakh people have now come on the waiting list.
How will be the condition of Turkey
Turkey’s situation is also challenging and Erdogan had promised to become an economy of $ 2 trillion by the year 2023, but its GDP has come down to $ 815 billion in the year 2021, which was $ 957 billion in the year 2013. Here the inflation rate is now at 80 percent.
Challenges remain for America as well
On the other hand, if we talk about America, whenever the inflation rate has touched the level of 5 percent, there has been an economic recession, so will this year see a different story? This is a big question. By the year 2023, America can come out of economic recession because the inflation rate can decrease here. According to research, stable housing health, education, employment and
It is essential for generational prosperity.
South Asia grappling with the Ukraine crisis
South Asia is paying the price for the Ukraine war. Sri Lanka, Pakistan and Bangladesh all these countries are facing challenges as the prices of food items and energy are increasing. However, India is a bright spot in South Asia.
What percentage of GDP is in the form of household debt?
South Korea – 105 percent
Hong Kong – 91 percent
Thailand – 90 percent
Taiwan – 88 percent
Britain – 88 percent
America – 80 percent
Japan – 70 percent
Singapore – 58 percent
India – 35
Food prices are rising in African countries
Between 2020 and 2022, African countries have seen a jump of 24 percent in the prices of food items. Apart from this, due to the high prices of energy, an increase in the prices of transport and fertilizers is also being seen.
Growing threat of global warming
Global warming is such a threat that is increasing continuously and is promoting poverty and disputes in countries. Where the average global temperature has increased from 1.1 percent to 1.3 percent, natural causes like many floods, droughts, forest fires and hot winds and heat waves will make it worse.
impact on online sales
In the year 2023, inflation will harm shoppers and retailers. The online sale which was at 10 per cent in the year 2014 has now increased to 14 per cent.
On the other hand, in terms of percentage, its growth can remain flat in the year 2023.
new car sales
Globally, sales of new cars will grow at a rate of 1 percent, while sales of electric vehicles will grow at a rate of 25 percent.
View Commodity Prices
Looking at the commodity prices, the commodity price index was at 100 in 1990, which will come down to 210 in the year 2023. In the year 2022 it was at 240 and it will come back to the level of 2021. In 2020, it was at the level of 170.
Aviation business will benefit
In the year 2023, after the 30 percent increase in international travel, this industry will start earning profits. Although it will not be able to go to the level before the Kovid epidemic because business classes will now meet in a remote way. (virtual or otherwise)
What will be the figure of global inflation
The global GDP figure may come at 1.6 percent but the global inflation rate will be around 6 percent, due to which the central banks of the countries will have to increase the interest rates.
crude oil price / dollar per barrel
2019 – $62
2020 – $47
2021 – $73
2022 – $100
2023 – $87
As part of Apple’s strategy, allowing people to block third-party apps, advertisers will face difficulties in collecting people’s data.
Clothing repair services are on the rise and LVMH’s elite repair service will arrive in 2023. Hugo Boss will create a resale platform where used Hugo Boss items can be sold. Tommy Hilfiger is also planning on offering a repair service.
Fear of the company’s employees
In the year 2023, the employees’ connection with the company’s culture and values will inspire them. People worry that robots are taking away their jobs, although no country has adopted robots on a large scale. Countries like Germany, Japan, South Korea and Singapore are facing the problem of unemployment.
world of virtual reality
Virtual reality is like a digital blindfold that takes you to a whole new world and it has left behind the computer world too. Whereas Mixed Realty is a step ahead of this, it gives a chance to mix virtual and real items.
All these research and conclusions are based on the article of The Economist.