We have reached the End of the Year 2021. Lots has happened this year. But on the economic front: it was not a good year.
And that was mainly due to one thing: a once in a lifetime occurrence. A pandemic: scarring maybe a generation, itس economic impact so severe, that it can still sink the world. These are the topics we chose for the end of the year program.
The Covid shock. From inflation, to supply chain disruptions, and massive price increases in energy: citizens of a majority of countries suffered economically as a result.The US dollar decline: a massive worry for the US.
Digital currencies on the one hand, and then major economies like China opting to choose national currencies for bilateral trade. Trading blocks without the US: the US is left out of them, from the RCEP, Regional Comprehensive Economic Partnership, to the SCO, in which Iran became a member.
Climate Change: huge conference in Glasgow: a lot of hype, and typical of previous conferences, no real pledge to reduce carbon gas emissions: major polluters falling short. And the US-China trade war continued this year. No thaw in trade relations: US will continue enforced tariffs at the behest and at a cost to US, and in turn Americans.