but the world hasn’t stopped – Corriere.it

With inflation so high, with interest rates likely to rise further in the coming months, we should seriously ask ourselves whether our country, like the others, can continue to grow. Given that development is the basis of our well-being, the answer should be at least interlocutory. If we add to this that, between technology, energy transition and geopolitical crises, we continually witness new discontinuities, we should draw the bitter conclusion that the economic situation is bound to get worse. Or at least that concern should prevail. Real. But between being worried and what happens in reality we go through it.

No recession

Despite the gloomy predictions at the moment no area of ​​the developed world, from the United States to Europe, including China, is in recession. If inflation continues its course, the energy costs that drove it could return to lower levels. On the contrary, the fall in oil prices, despite the production cut in the producing countries, shows that this trend could consolidate, as noted by Chris Giles in the Financial Times from last week.

The role of Beijing and India

Also from a geopolitical point of view lhe definition of aggression of Russia’s action in Ukraine by China and India, indicates the will to overcome even that highly destabilizing element in the heart of Europe. Perhaps also because China and India were those areas of the world which, according to the Kiel Trade indicator, will see a contraction in exports in May, unlike the rest of the world. And this while both America and Europe have, through the mouth of Janet Yellen and Ursula von der Leyen confirmed their strong will to maintain strong economic ties with the two eastern nations. To demonstrate that if the picture is certainly not positive, on the part of the decision-makers there is every will to avoid a slowdown in the world.