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Do not extrapolate last year s trends for the global economy

CAMBRIDGE Behavioural economists have popularised the term “recency bias” to describe our tendency to be disproportionately influenced by the latest events compared to earlier ones. Could this cognitive phenomenon explain why numerous analysts have a rather optimistic tilt for the world economy in 2024? Or are there really positive trends counterbalancing the obvious and

Do not extrapolate last year s trends for the global economy

CAMBRIDGE Behavioural economists have popularised the term “recency bias” to describe our tendency to be disproportionately influenced by the latest events compared to earlier ones. Could this cognitive phenomenon explain why numerous analysts have a rather optimistic tilt for the world economy in 2024? Or are there really positive trends counterbalancing the obvious and

The growing risk of global disorder

CAMBRIDGE The Western-led global economic order had a bad 2023. Surprisingly, the primary cause was not the emergence of an alternative order led by China, as some had anticipated. Instead, it was internal stress that led to more doubts around the world about its effectiveness and legitimacy.

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