this is gps, the global public square. welcome to all of you in the united states and around the world. i m fareed zakaria. today on the program, president putin s most formidable political rival was locked up two years ago. but alexi navalny still has a voice, his message carried on by his inner circle, one that inspires russia s opposition movement. i have an exclusive interview with his daughter, dasha, on the state of her father and his mission to bring democracy to russia. and what might befall the world in 2023? ian bremmer will lay out the biggest political risk of the new year. the biggest risk is putin, acting as the most powerful rogue state that we have ever dealt with in his story. and rucihr sharma will give the economic outlook. but first, here is my take. it was hard not to be fixated on the drama that unfolded in the house of representatives this week, when the republican party had a nervous breakdown in full public view. this crisis was entirely of th
2022 was a rocky year for the economy. growth slowed, inflation ran rampant, and the stock market plummeted. what will the economy look like in 2023? investor and writer ruchir sharma has a new piece in the financial times laying out some big shifts he expects to see this year and beyond. welcome. thanks, fareed. so the concern here is that all of the rules of the last decade have been overturned. why? what do you think is happening? well, i think that the main event from an economic perspective has been the incredible tight anything of the federal reserve, the era of easy money with zero interest rates, quantitative easing, that s come to an abrupt end. so many of the rules that apply,
them win key states next year. democrats don t know how they ll do that. if senator joe manchin is the boss, and it seems he is, they ll have to drop a lot of key priorities they ve been promising for years or decades to get this done. do republicans capture majorities in both chambers? yeah. 2022 will be a year of political transition. we re no longer in president biden s first year in office. at the very end of this year, there are midterm elections where voters decide who s in power from your local legislature on up to congress. historic trends suggest that the party in power loses seats in congress. it s almost certain based on the last century of elections. republicans have a good chance to capture majorities in the house and the senate as well. even capturing one chamber would completely stop president biden s first term. a huge question, three, is
republicans won t support democrats. this is why i fundamental will you believe they will come to a deal. a compromise. when you are that far away from something, when you both fundamentally believe this has to happen and i think that they do. then we will come to an agreement. because if we re able to get this done, imagine, we might even have majorities after 2022 in both the house and the senate and imagine what more we could get done for the american people. and that s the key. they have to get something on the books for 2022. we have all of these issues with covid on the rise. crime on the rise. the economy in the toilet. the abysmal withdrawal from afghanistan. democrats have nothing to show they re in control of the house, the senate and the white house and they have no checks in the win column. they have to come together on the spending. it is going to be a really big problem in the mid-terms. yeah. 2022 is hanging over everything, right? and also for the republican