Recession, geopolitics spark next year’s risks


Recession in Europe and North America, unresolved conflicts, and energy security concerns pose economic and geopolitical risks next year, S&P Global Market Intelligence said on Wednesday.

According to S&P Global Market Intelligence’s report, several unresolved conflicts, including Russia-Ukraine, will be sources of persistent risk in 2023.

The same report added that conflicts would filter into the global economic outlook.

“The invasion of Ukraine has hastened a confrontation with a host of global security risks to be wrestled with in 2023,” S&P Global Market Intelligence said.

The US analytics company added that economic and security spheres worldwide will become increasingly interdependent in 2023 and beyond.

It is also expecting countries to use financial levers — including tariffs, export restrictions, and sanctions
— to advance national security priorities.

Energy security
With energy security back atop the agenda following Russia’s invasion of Ukraine, S&P Global Market Intelligence said countries will be balancing other fiscal priorities next year to accelerate their energy transitions.

The US analytics firm added that energy security will remain at the top of the agenda.

This factor would leave countries to balance pressing resource priorities, such as food and energy, with their energy transition ambitions, S&P Global Market Intelligence said.

An expected easing in supply chain disruptions in the first half of 2023 remains vulnerable to labor and resource shortages including critical technologies and critical minerals.

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