The era of global polycrisis is coming. What will happen to the world and the economy

The difficulties that the world has faced in recent years, and especially the increase in geopolitical tensions between countries in 2022, is the beginning of a new transformational period for the global economy, experts say. According to economist Nouriel Roubini, in the next 10 years the economy will face interconnected financial, environmental and political crises.

The world has experienced such crises before, but separately, and experts, including Roubini and economic historian Adam Tooze, fear that they could now turn into a single polycrisis, a situation where several crises overlap and their impact is amplified.

On December 16, the World Economic Forum kicked off in Davos, which is considered one of the largest platforms for international business and political cooperation. Before the event, forum experts presented a report on global risks, which states that short-term problems - rising inflation and recession risks - could develop into a full-fledged polycrisis by the end of the decade.