Happy New Year, everyone! We thank our customers who have given us a lot of support for year 2022 (actually since Covid19 hits the world back in 2020)
On January 22nd 2023, the Chinese New Year of the Rabbit bounds into action. All Rabbit years are believed to bring happiness and good luck, but this is no ordinary Rabbit year, for 2023 is the year of the Black Water Rabbit - a specially gifted, creative Rabbit that has not been seen since 1963.
Any, we resume business on the 9th January, 2023 after a two weeks of year end break.
Following a very challenging couple of years in 2020 and 2021, many people around the world feel 2022 has been a little better. However, uncertainty about both short- and longer-term futures prevails. Global citizens are struggling to be optimistic about 2023 as most express concern about the state of the economy, the environment and world security.
The Economy in 2023
Overall, there is much more pessimism about the global economy than we saw this time last year. Only 46% on average believe that the global economy will be stronger next year, compared to 61% who did so last year and 54% in 2020. People in Belgium are the most pessimistic about the economy with as few as 27% expecting to see improvements, while those in China and the UAE where 78% and 76% respectively anticipate better times, are the most optimistic.
The reasons for this pessimism are clear. Large majorities expect the cost of living (79% expect prices to rise, 75% expect to see higher inflation rates), levels of unemployment (68%), and interest rates (74%) to increase.
Even more worryingly, nearly half (46%) think it likely that their country will need to be bailed out with emergency funding from the International Monetary Fund, with those in South Africa (78%) and Argentina (70%) being particularly worried about this possibility.
Around half (50%) think it is likely that major stock markets around the world will crash, a significant increase from 2022 where 35% thought they were likely to crash. This year 15% of people think this is very likely to happen.
Following a very challenging couple of years in 2020 and 2021, many people around the world feel 2022 has been a little better. However, uncertainty about both short- and longer-term futures prevails. Global citizens are struggling to be optimistic about 2023 as most express concern about the state of the economy, the environment and world security.
The Economy in 2023
Overall, there is much more pessimism about the global economy than we saw this time last year. Only 46% on average believe that the global economy will be stronger next year, compared to 61% who did so last year and 54% in 2020. People in Belgium are the most pessimistic about the economy with as few as 27% expecting to see improvements, while those in China and the UAE where 78% and 76% respectively anticipate better times, are the most optimistic.
The reasons for this pessimism are clear. Large majorities expect the cost of living (79% expect prices to rise, 75% expect to see higher inflation rates), levels of unemployment (68%), and interest rates (74%) to increase.
Even more worryingly, nearly half (46%) think it likely that their country will need to be bailed out with emergency funding from the International Monetary Fund, with those in South Africa (78%) and Argentina (70%) being particularly worried about this possibility.
Around half (50%) think it is likely that major stock markets around the world will crash, a significant increase from 2022 where 35% thought they were likely to crash. This year 15% of people think this is very likely to happen.
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