The green trade row dividing the Davos elite

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There has been a change of climate in the Alps this winter, and it’s not just that the snow has finally fallen after an unseasonably warm December.

Chief executives and government ministers from around the globe are gathering for the annual World Economic Forum (WEF) in Davos, Switzerland, where for the last three years the focus has very much been on how to tackle the huge series of shocks that has hit the world economy.

From the wet market of Wuhan, to the Kremlin’s crazed calculations, pandemic and war have conditioned a path of record inflation and surging debts, with a third of the world expected to be in recession this year.

But there is some light at the end of the tunnel. And however distant a ski resort full of global leaders may sound, WEF is the sort of place where you get a sense as to whether a three-year storm may start to subside.

There are some signs that the first indicators of surging inflation in the world economy are now beginning to normalise. Supply chains for the parts and ingredients that make the products we buy have been repaired after getting gummed up during the pandemic.




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