There is also good news coming from China, where the restrictive COVID measures have been eased suddenly, which means that their economy could begin to grow rapidly with the news that the Chinese central bank is announcing support for the domestic economy.
Each piece of news may not mean much, but if we look at the bigger picture, the conditions are created for the world economy to begin to recover. Of course, this entire recovery is still in the shadow of the war in Ukraine, but somehow it seems to me that this war will end this year, either with the victory of Ukraine, which is getting stronger militarily every day, or with the withdrawal of Russia from the occupied territories.
These two paragraphs carry two vital message that I carry from your information. My question is do we think covid-19 pandemic was the part of the major reason that the world economy is struggling and some countries are nearing recession or that the Russian Ukraine war is the major reason and in my own view I think covid-19 was the major cause because it caused or forced many countries to go out of production, it is global and its effects are so excruciating. The war in Ukraine is not directly affecting some continent like it happened with covid-19 , so it is a good news if China is now easing out covid-19 restrictive measures this can help full production to commence. One of the biggest obstacle to inflation to inflation is production.