THE NEWS, as the second anniversary of the pandemic nears, could be better. The emergence of a covid-19 variant, labelled Omicron, has sparked a wave of selling on financial markets, seemingly on concern that a new highly transmissible strain of the virus could set back economic recoveries worldwide. Yet even if Omicron proves manageable, 2022 will probably be an economically trying one, as countries are squeezed between two formidable economic forces: tighter American monetary policy and slower growth in China.
Read Full Article »
