fiscal policy

Ian Bremmer's Quick Take: No matter what your government looks like, you're dealing with very high inflation. This is a global inflation shock. The economic disruption hit everybody. First, COVID destroyed global supply chains, seizing up the global economy. Then China's zero-COVID - just as the United States and the Europeans vaxxed and relaxed, started unmasking and going about our business - the Chinese locked down Shanghai and Beijing and some of China's most important ports. We still get so many of our goods, especially the low-cost ones, from China. That hits with greater supply chain risk. On top of that, the war, the Russians invading Ukraine, leading to massive disruptions in energy, massive disruptions in food and fertilizer - all of that is increasing prices.