The war in Ukraine will continue to affect the world economy.
Alexander Norén likens the situation to a sailboat on an open and foggy sea.
- Out on the horizon is a Russian oil tanker that we risk colliding with.
The joker in the game is Putin, where the war leads and thus energy prices.
Regardless, we can probably count on high energy prices in 2023 as well.
- But it could also be a Chinese cargo ship that we see on the horizon.
China is an important factor
An important factor is how things are going for China.
When the country opens up after the covid shutdowns, it may mean that their demand for energy increases, which in turn pushes up energy prices, Norén believes.
- If they succeed, they can act as a locomotive in an otherwise slowed-down world market.
Norén also points out the recession as a big issue ahead of 2023.
- If it gets so bad that we feel an increase in unemployment, Swedes with high mortgages can at least be happy that the interest rate increases are over.
Watch as Alexander Norén paints the world economy with the help of AI in the video above