Normalisation, But Not As We Know It

17 March, 2022
Zoom

Past Event Overview

The global economy is recovering from the shock of the pandemic but things are still a long way from normal.  The battle against the virus is far from won. Supply chain bottlenecks, higher energy and food prices, surging consumer demand and higher wages have combined to send inflation in the US and Europe to multi-decade highs.

Labour markets have also changed since the pandemic. The US, the UK and many advanced economies face worker shortages and low labour market participation. Major central banks are now on the cusp of withdrawing liquidity from financial systems more quickly than they have in some time. China’s economy faces growth headwinds from its property sector, maintaining its COVID zero policy and a likely cooling in global manufactured goods trade, although loosening policy and infrastructure spending should support activity. For commodity markets, prices have risen, inventories are low and prices look set to stay high for some time yet, even if they ease back a bit.

This is just a snapshot of the issues Paul Bloxham, HSBC Bank Australia’s Chief Economist (Australia, New Zealand and Global Commodities) and Managing Director Global Research, covered in this webinar session: Normalisation, But Not As We Know It.

Paul discussed big issues shaping the market in 2022 including:

  • Supply chain bottlenecks
  • Inflation in the US and Europe
  • Geopolitical risks
  • Commodity markets
  • China’s economy – growth headwinds
  • Energy transition

Speaker

Paul Bloxham

Paul Bloxham

Chief Economist (Australia, New Zealand and Global Commodities) and Managing Director Global Research, HSBC Bank Australia