At the start of the new year, the parlour game of pretending to know what will happen in the next 12 months has begun. Yet when it comes to 2022 (and beyond), I am not sure whether it is worth even pretending. I cannot recall a previous time when there were so many big question marks looming over so many key economic issues.
This deep uncertainty is especially intriguing with respect to financial markets. Should any of several developments to watch take a negative turn, the implications for today’s elevated markets could be dire.
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Project Syndicate
Jim O’Neill was chairman of Goldman Sachs Asset Management and former commercial secretary to the UK Treasury.
