And so, as it was written, it came to pass

This piece brings together information about Omicron and supply-side disruptions. It finds the two are inextricably linked. Covid will continue to disrupt the global economy. It acts as a wave hitting one area and then cropping up in another. Even a minor event can have a major economic effect (China is a case study below). Looking ahead, one major risk stemming from both Covid and these supply-side disruptions is that individuals’ perceived risk rises so that the excess savings accumulated during Covid are not spent. This could cause a sudden synchronised global downturn.

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