Our coverage of global economics, from inflation-fighting central banks to apprehensive financial markets

The global economy faces an exceptional moment of uncertainty. High and persistent inflation has led central banks to raise interest rates rapidly. Monetary tightening has caused banks to fail in America and house prices to wobble across the rich world. China has reopened its economy, having abandoned its “zero-covid” policy, but has not yet grown as fast as investors predicted. Still, many economies are proving surprisingly resilient to the forces that are buffeting them. The euro zone has technically entered a recession but remains stronger than feared, helped by the partial reversal of the surge in energy prices that followed Russia’s invasion of Ukraine. And labour markets continue to be strong. Read our latest economy news and analysis below to understand what is going on, why, and what may happen next.

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The US economy

Why America’s banks need more capital

Though imperfect, regulators’ plans are necessary to keep the system safe

To understand America’s job market, look beyond unemployed workers

Why talk of a skills shortage is overblown

The resumption of student-loan payments will hit American growth

It is not just borrowers who face a return to reality

The pandemic has broken a closely followed survey of sentiment

Americans’ opinions about the state of the economy have diverged from reality

The $100trn battle for the world’s wealthiest people

Two financial giants look likely to crush the competition

America’s bosses just won’t quit. That could spell trouble


China’s economy

China’s banks may be loaded up with hidden bad loans

The industry’s covid-era hangover could be about to intensify

China’s economy may be growing faster, but big problems remain

None is more unnerving than the threat of deflation

How China’s Belt and Road Initiative is changing

The many motivations behind Xi Jinping’s key foreign policy

How economists have underestimated Chinese consumption

The surprising relevance of state-subsidised spicy cucumber


Russia’s economy

The costs of Russia’s war are about to hit home

Vladimir Putin will be unable to protect citizens from the pain

A higher global oil price will help Russia pay for its war

The Kremlin tries new tactics to keep proceeds afloat

Russia will struggle to cope with a sinking rouble

What does the currency’s collapse mean for Vladimir Putin’s ability to wage war?

How Russia dodges diesel sanctions

Restrictions are bringing easy bucks to those who do not observe them

Buyers of Russian crude are exporting refined oil to the West

The price-cap scheme has created opportunities for middlemen


Asia’s economies

Sri Lanka shows how broken debt negotiations have become

The country’s creditors decide they have no choice but to freeze out China

What Asia’s economic revolution means for the world

Links between the region’s countries are getting stronger. But America’s loss is not entirely China’s gain

How Asia is reinventing its economic model

The continent’s future will involve less Western influence

Modi’s “one India” goal is good for the economy, but not for politics

In the next decade regional tensions will build in India

The end of a remarkable era in Indian finance

Uday Kotak, one of the past century’s great bankers, retired on September 1st

The Gulf countries want to reshape the Middle East in their image

Stability and development is a tempting formula, but it has been tried before


Europe’s economies

Which EU country is winning our economic pentathlon?

We’ve ranked countries on five measures

Despite Brexit and the government, British manufacturing is doing well

But food and drug firms have fared better than carmakers

Europe should not copy Bidenomics

It needs a deeper, greener single market—not more state handouts

Rising bond yields are exposing fiscal fantasy in Europe

Italy’s budget plans look irresponsible