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The global economy is facing a number of interlocking challenges and crises, with Russia’s war on Ukraine, food and fuel inflation, higher retail inflation, and the potential for a recession on the horizon. Governments are attempting to combat inflation by raising interest rates, but this could lead to slower job creation and capital expenditure. Moreover, the potential for new COVID outbreaks and China’s uncertain post-pandemic path could further exacerbate supply chain pain and market volatility.