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5 reasons 2023 will be a tough year for global markets
Those who come bearing warnings are rarely popular. It’s irreparable because new infrastructure takes time and money to build and ESG mandates make it tough for energy companies to justify large-scale fossil fuel projects. In the short to medium-term, the reshoring of jobs from low-cost offshore locations will feed inflation in high-income countries as it pushes up wages for skilled workers and cuts corporate profit margins. Higher borrowing costs will have limited power now we have entered an era of secular inflation, with supply/demand imbalances resulting from the unraveling of globalization. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. Source: Cointelegraph #globalmarkets
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