On the Publishing of the Book | Tom Standage

PART 1

● Leaders
Three Shocks That Shook the World | Johnny Minton Beddoes
The Chance of Ukraine's Victory | Edward Carr
A Dark Cloud of Suffering | Roger McShane
Bankers vs. Budgets | Henry Kerr
How Putin's Wars Are Causing Global Unrest | Robert Guest
The Faustian Bargain | Patrick Powless
Fighting the Stagflation Monster | Rachana Shanbog
Not That Old Song | Catherine Nixey

● Business
Hydrogen Rise | Vijay Byteswaren
From the Ashes | Guy Scriven
Europe Has Already Soared | Ludwig Siegele
Free Lunch | Binjeru Mkandawire
The Ongoing Tech War | Don Weinland
When deciding on a clear route｜Ore Ogunbi
The Golden Stains of Time｜Imogen White
It's Time to 'Rethink' How Businesses Operate | Rose Brewer
Diverging Carbon Emissions Regulations | Henry Tricks
Charge and Go | Simon Wright
Don't be afraid of robots, welcome them. | Kim Povlsen

● Finance
Fighting the Good Fight | Ryan Avent
The Boring Twenties | Callum Williams
The Return of the Buyers? | Alice Fullwood
In the Midst of Winter | Alice Fullwood
More Pressure | Matthew Pavas
Yuan for Money | Don Weinland
Hot Tub Economics | Arjun Ramani
King Cash Challenge | Tayo Obiosu

● International
Fat Elephants, Thin Dragons | Brooke Unger
Lost People | Rachel Dobbs
Hotter Air | Catherine Braig
Comrades and Enemies | Anton LaGuardia
Reality Check | Tom Standage
Nothing to eat | Avantika Chilcoti
Lessons Learned from Learning Loss | Sal Khan

● Science and Technology
The Magic of Mushrooms | Natasha Lauder
Vaccines vs. Mutants | Slavi Chankova
Go Forward Bravely｜Alok Ja
What's Next for Virtual Innovation? | Team Cross
You know what I mean even without me saying it｜Slavy Chankova
Long Live Air Taxi | Paul Macquarie
Mother of Invention | Shaquille Hashim
Why Quantum Computing Can't Be Ignored | Jack Heatherly

● Culture
A Different Way of Looking at History | Fiametta Rocco
Let's Start the Show Again | Rachel Lloyd
Next Episode | Tom Wainwright
Dolls and Superheroes | Rachel Lloyd
Saudiwood, a sizable figure | Ellis Burr
Vertical Living | Claire McCue
Badge of Honor | Brian Eno

PART 2

● United States
Big 4 | Alexandra Switch Bass
Walking on a Blade | Idris Kalhoun
The Leadership Question | James Bennett
Restoring Authority | Anton La Guardia
Rain, Sometimes Clear | Simon Rabinowitch
Please Give Me an Education Voucher | Tamara Gilkes Boer
Backlash | Sorry Lizzy
Lower Limit Update | Arin Brown
From NIMBY to IMBBY | Eric Adams

● Europe
Conflicting Possibilities | Shashank Joshi
What's Next for Russia? | Arkady Ostrovsky
The Price of Peace | Christopher Lockwood
The Inflation Catastrophe | Christian Odendaal
Turkiye Celebrates 100th Birthday | Piotr Zalewski
Areas in Spain | Rain Green
Where Are You Going? (Quo vadis) | John Hooper

● United Kingdom
Things Only Get Better | Duncan Robinson
The Sick Man of Europe Again | Soumaya Keynes
Not in the Pipeline | Hal Hodson
Take the Sureest Path | Matthew Holhouse
Next time on the street | Joel Bird
The Sick Organization | Catherine Nixey
Royal Stamp | Catherine Nixey
It's time for Scotland to be free | Nicola Sturgeon

● Americas
The Return of Lula | Sarah Maslin
Vote with Your Feet | Sarah Burke
Leaning Right | Michael Reed
Energy Policy Goes Backwards | Sarah Burke
End of the War on Drugs? | Emma Hogan
A New Way to Tackle Climate Change Together | Mia Motley

Middle East
Unpredictable Situations | Jan Smiley
Drowning in Debt | Greg Karlstrom
No Rush | Greg Karlstrom
Advice for Revolution | Nicholas Pelham

Africa
A New Source of Livelihood | Jonathan Rosenthal
Rise Up, Rise Up | John McDermott
A Giant in Suffering While Moving Slowly | Kinley Salmon
When Fighting Poverty Helps the Climate | Vanessa Nakate
The Greatest Saboteur | Tom Gardner
It's Time for a Continental Reset | Kuseni Dlamini

● Asia
Surviving India | Leo Mirani
Modi's Cricket Politics | James Astill
Reconstructing the Nation | Lena Schiffer
The situation is getting worse | Avantika Chilkoti
Key Issues to Watch | Dominic Ziegler
Coming Down from the Tiger | Mike Bird
We're Back!｜Charlotte McCann
Jokowi's Megacity | Charlotte McCann
Why Women Are Japan's Hidden Asset | Masako Mori

● China
Uncharted Territory | David Rennie
China's Overtaking | Simon Cox
A Whole New World | Jeremy Page
Asia's Ukraine? | Roger McShane
Xi Jinping's Words, Their Words | Alice Su
Don't Tell Our Story Without Us | Yuanfeng

● Major global indicators
Country-by-Country Outlook for 2023 in Numbers
Industry Outlook by Numbers for 2023

Obituary
There are items that cannot be processed at the checkout counter.｜Anne Lo

● Special Section - Understand This
23 New Terms to Watch in 2023

Major World Events in 2023
Drawing the Year 2023
Graphic details
Super prediction

As we begin 2023, a year in which we must embrace the "unpredictable normal"…
Will The Economist's predictions for the 2022 South Korean presidential election continue to hold true in 2023?

Fight the stagflation monster
With the era of high inflation already upon us, what are the countermeasures for the inevitable economic downturn?

The global economy is slowing, and many countries are at risk of falling into recession by 2023.
Already in 2022, with inflation soaring, the future earnings value of investment firms is plummeting, and consumers are starting to tighten their belts.
The Russo-Ukrainian war and geopolitical conflicts between China and the West also added to the uncertainty.
High-growth companies that failed to turn a profit saw their valuations plummet, and technology companies struggled to adapt to the new reality.
Many companies have resorted to cost-cutting measures, including layoffs and halting experimental projects.
Most countries will have inflation under control by 2023, but there will be significant pain.


After Russia's invasion of Ukraine sent food and energy prices soaring, many national economies experienced inflation at levels not seen since the 1970s and early 1980s.
Rising prices are the result of a combination of inflationary forces.
Major economies will enter recession as central banks raise interest rates to curb inflation, exacerbated by rising energy prices and the fallout from the pandemic.


The market expects the U.S. Federal Reserve to raise its benchmark interest rate to 4.5-5% by June 2023.
The roller coaster-like movements of stock assets will also experience even greater price volatility in 2023.
The scale of the crisis will also depend on two major factors: the depth of the economic downturn and the duration of the war in Ukraine.
Energy prices, inflation, interest rates, economic growth, and food shortages all depend on how long and how this war unfolds.
2023 will be a year of heightened tensions between fiscal and monetary policy.

China at its peak vs. the fragmented United States
A tense battle with no end in sight: What are the implications of the geopolitical conflict between the US and China?

There is a saying that “America has allies, but China and Russia only have customers.”
In a world where competition from arrogant autocrats intensifies, Joe Biden's unrivaled network of alliances and partnerships is his "most important strategic asset."
In fact, European allies have joined hands with the United States to support Ukraine and try to prevent Russian aggression.
Biden sees this as part of a global competition between democracies and authoritarian states.
In 2023, the United States will seek to further strengthen the "connective tissue" between its Eastern and Western allies to maintain its leadership in the global order.

The technology war between China and the United States has only just begun.
The US government has declared all-out war, blocking China from obtaining several essential components that power AI development.
American companies will no longer be able to export cutting-edge semiconductors or necessary software and equipment to China.
Since the Biden administration took office, restrictions on Chinese technology have not changed or decreased; rather, they have increased.
How long will the new restrictions on Chinese technology investment last? The US measures will accelerate the gradual decoupling of the world's two largest economies.
The geopolitical conflict between the United States and China will continue to shape the global technology industry.


The problem is that these countries also have serious internal problems.
China will face a sobering assessment of its economic headwinds, with India overtaking it in population at around 1.43 billion by April 2023, meaning it will never surpass the size of the U.S. economy.
The United States, too, may have to take solace in a modest economic downturn as it grapples with social and cultural divisions over hot-button issues like abortion rights and gun control.


In the midst of unpredictable wars and the threat of imminent conflict,
What are the hopes and solutions for energy depletion, food crises, and the worsening climate refugee problem?

The aftermath of Russia's invasion of Ukraine has been a long tunnel for energy users.
Western sanctions and Russian supply cuts have put pressure on the global oil and gas trading system, which was already strained by the sharp rebound in demand following the pandemic and limited investment in new production.
High energy prices will continue to hurt businesses and consumers.
There are still many uncertainties in 2023.
While a recession will curb oil demand, supply disruptions will disrupt the oil market, and variables such as increased scarcity of refined products like gasoline and diesel and disruptions in Russian gas supplies will pose significant challenges.
Nations are turning to polluting fossil fuels in a rush to secure their energy supplies.
Still, one silver lining is that energy shocks can spur a shift to renewable energy.
The Economist predicts that, just as there is opportunity in crisis, this may be a turning point in energy history that will accelerate the transition to clean energy.
In 2023, we will continue to address the volatile oil and gas markets, but we will also redouble our efforts to build a cheaper, cleaner, and more stable energy system.

But this is not the only problem.
The world enters 2023 amid a food crisis exacerbated by war and climate change.
As the world continues to grapple with the COVID-19 pandemic and slowing economic growth, a staggering 50 million people are expected to enter 2023 hungry.
Unpredictable weather events are becoming more frequent, and the number of people forced to migrate to escape their impacts may increase.
The most powerful factor is the El Niño Southern Oscillation (ENSO).
This means that climates around the tropics will oscillate between two extreme states known as El Niño and La Niña, and regions such as sub-Saharan Africa, East Asia, South Asia and the Pacific will have to brace for climate refugees.


The pandemic's aftermath: Office Big Bang and productivity declines
What industries should we pay attention to, driven by opportunities and retaliatory sentiment amidst crisis?

After a long and protracted coronavirus lockdown, if there's one place that hasn't quite settled down yet, it's the office.
Less than a third of employees still commute to the office, and companies are trying to lure employees into their buildings by offering free lunches, commute allowances, and various other amenities and benefits.
Still, hopes for a post-pandemic surge in productivity remain elusive.
Because worker absenteeism is likely to remain permanently higher than before 2020.
There are also emerging phenomena of "ambassadorial resignations" – people refusing to return to work after the pandemic – and "quiet resignations" – people doing only the bare minimum.
There is also a growing expectation that companies will engage with socio-political issues and problems rather than remaining politically neutral.
In a changing workplace where commuting, work-life balance, remote work, and hybrid working coexist, what should organizations and individuals prepare for?

But even amidst the business turmoil, there are industries that seek opportunities.
The hydrogen race is hotter than ever, with geopolitical conflicts and energy trends shining a spotlight on hydrogen.
The scope of space exploration missions in 2023 will also extend from low Earth orbit to the moons of Jupiter, and electric vertical takeoff and landing aircraft, known as flying taxis, will begin commercial production and take the first steps toward passenger transport service.
Furthermore, the next innovation after smartphones is expected to be virtual reality and augmented reality headsets, and a full-fledged metaverse world is expected to open, where the internet is replaced by immersive 3D video games.
In South Korea, the Seoul Robot and Artificial Intelligence Science Museum is nearing completion, and robots will be helping to establish the first robot museum.
What's most welcome is that museums, galleries, and cinemas around the world, which had been closed during the pandemic, are now starting to offer a wealth of new shows.
As people's desire for revenge increases participation in sports, performances, and travel tourism, the service industry will also see rapid growth, although it will be difficult to recover to pre-pandemic levels.


23 Terms the World Should Watch in 2023
Everything You Need to Know About Global Issues for 2023

The world of 2020-2021 was a time of intense saturation and attention in epidemiology and vaccinology, areas that were previously completely unforeseen.
From there, unfamiliar and novel terms like “flattening the curve,” “viral load,” “spike protein,” and “mRNA vaccine” have become part of public discourse.
And the 2022 Russo-Ukrainian war made it necessary to learn other terms, such as "haymas" and "artillery fire."
So what new terms will become widespread in 2023? In this issue, The Economist will feature a special section predicting 23 new terms you should know in 2023.


At the end of 2022, when it was difficult to hastily predict the outcome of the South Korean presidential election, The Economist created a sensation with his surprisingly accurate prediction of President Yoon Seok-yeol's victory in "2022 World War Network."
By anticipating and preparing for the changes of 2023 with the foresight and boldness of an economist, we are confident we will be able to seize the initiative and secure a future prepared to keep pace with global trends.