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Translated by: MOS English Team – mingyue
It is reported from Davos, Switzerland, that the world has many risks: soaring inflation, Russia’s war in Ukraine, compressed supply chains. The threat of food insecurity around the world, the lingering CCP virus (COVID-19) pandemic. As business leaders, government officials and other dignitaries gather in Davos, Switzerland, for the World Economic Forum’s annual meeting, there is growing pessimism about the coming months.
This week, the managing director of the International Monetary Fund Christalina Georgieva tried to dispel that pessimism at an economic panel meeting, saying a global recession was not planned, but “that doesn’t mean it’s unlikely.” Christalina points out that, he IMF last month forecast economic growth of 3.6 percent in 2022, which is “a long way from a global recession.” But she acknowledged that it will be a “tough year” and that one of the big problems is soaring food prices, in part because of the Russia-Ukraine war, and “anxiety about getting food at reasonable prices across the globe is peaking,” she said.
The brewing food crisis, especially for countries in Africa, the Middle East and Asia that rely on cheap wheat, barley and sunflower oil, which are blockaded at ports in the main producing country Ukraine, has been a key topic in Davos. President of the European Commission Ursula Von der Leyen accused Russia of deliberately bombing grain depots across Ukraine and using food supplies as weapons.
Edited by: MikeHua
Posted by: Peter Chen
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