Bøker av Nohad Toufic Harati

As the war in Ukraine dragged on, expectations of oil reaching US$ 150 did not materialize as other commodity distribution channels allowed the product to flow to its destination. Similarly, other economic predictions, such as privately issued cryptocurrencies replacing the central role of the US dollar were dashed together with the collapse of FTX. Politically aligned countries wishing to guarantee better trade arrangements as well as some self-sufficiency struggled to find ways to emulate regional currencies similar to the euro, the enlarged BRICS being the obvious example, considering how different they were in terms of the free flow of capital and labor. Securing supply chains and technology through industrial policy seemed to be a far more rational choice in face of external threats, even if that meant potentially higher inflation and a higher neutral rate, pushing forward the prospects of yet higher interest rates. The benefits of artificial intelligence in terms of productivity or even China's ability to generate growth created more doubts than certainties, especially after war broke out in the Middle East.

Inflation proved to be persistent, especially after the invasion of Ukraine. Monetary policy became a trial-and-error experiment. By June, the orchestrated answer by central banks showed how much inflation expectations had taken over the economic debate. On the backdrop of these troublesome times, climate change made itself noticeable, bringing awareness of nature related problems that can soon impose difficult trade-offs in terms of global food supply. The search for a new productivity boost proved to be the answer for greater economic growth but, unfortunately, tech darlings and other innovative businesses were facing turbulences of their own. As the generalized sense of instability continues, the purpose of this book is to bring some light on why the road ahead remains bumpy.

The financial crash of 2008 pales in comparison to what humanity faced throughout the year of 2020: a highly contageous virus, lockdowns, enormous economic stimuli programs, inequality, and stock markets at all time highs. By looking at the list, one undeniable truth is that the "pandemic crash" will have lasting effects on the world economy, not to mention society at large. In order to understand what happened and how covid-19 has created a new future, this e-book analyzes, from a financial perspective, the 20 most relevant facts of the year.