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It could have been a lot worse. In April, as President Donald Trump started his trade war, investors and many economists braced for a steep global recession. In the end, global gdp will probably grow by around 3% this year, the same as last. Unemployment remains low almost everywhere. Stockmarkets have logged another year of respectable gains. Only inflation is really a worry. Across the oecd it remains above central banks’ 2% targets.
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This article appeared in the Finance & economics section of the print edition under the headline “Muito bom”
From the December 13th 2025 edition
Discover stories from this section and more in the list of contents
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What a stiff drink says about China’s economy
The baijiu business is the latest to be struck by “involution”
America’s bond market is quiet—almost too quiet
Scott Bessent has a cunning plan
Wall Street is drooling over bank mergers
The world’s most fragmented financial industry faces dramatic change
Buttonwood
Asia’s inexpensive AI stocks should worry American investors
Tech mania looks very different in Japan, South Korea and Taiwan
Free exchange
AI misinformation may have paradoxical consequences
To understand why, consider the side-blotched lizard
