According to many reputable economists and asset managers of the largest financial institutions, the world is heading towards a deep economic recession. As a person interested in the economy and the financial markets, I cannot but agree with them.
The war in Ukraine, which is essentially a proxy conflict between superpowers, threatens to disrupt supply chains and creates the risk of world food/energy shortages, which can potentially lead to famine and social explosions in the developing nations. Not to mention hyperinflation, and turbulence in the stock/equity and real estate markets which can be seen in the financial capitals of the world these days.
I am convinced that at this time of great change, it is necessary to invest in innovation, infrastructure, and a creative economy. The world governments and philanthropies should not spare funds for the development of education, culture, and high technologies worldwide during such challenging times. These sectors have not only high growth potential but also can heal the wounds of humanity and bring nations together. I am convinced that artists and educators of the world can make big contributions to the process of rebuilding trust between nations and rebooting international trade and cross-cultural exchange when politicians get tired of wars.
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