There is a chance that the planet will once more break up into camps, rather in a different configuration than in the Chilly War, but this will signify a retreat from globalization – said the Bank’s chief economist in the “Fakty po Faktach” software on TVN24. European Union for Reconstruction and Development, prof. Blessed Javorcik. In accordance to PwC’s chief financial advisor, prof. Witold Orłowski “we have been residing in a disaster for various several years”.
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– It seems to me that we have entered a interval of wonderful uncertainty. We have a war on the doorstep of the European Union, there is a genuine risk that in the wintertime we will have an electrical power disaster in Europe and climate adjustmentsthat we will start to hear quicker than we feel. Additionally, the geopolitical tectonic plates have started to transfer, to established in movement, we do not know where by they will prevent and when – reported prof. Blessed Javorcik.
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“There is also the risk that the environment will divide itself into camps all over again, in a slightly diverse configuration than in the Chilly War, but this will mark a withdrawal from globalization, from worldwide cooperation that has introduced us quite a few economic added benefits in recent many years,” she She reported.
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“We have been residing in a disaster for several years”
According to prof. Witold Orłowski “we have been residing in a disaster for a number of many years”. “It is possible that when you look at this commencing from the viewpoint of the initially 20-30 many years of the 21st century, probably economists will argue that it was a crisis,” he said.
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– If we read about the war, it appeared that when it begins, it is the end of the earth, the entire world stops, we are mindful of the catastrophe. Now the rockets are falling 300 kilometers from us, but our life have not altered in any elementary way. There is anxiousness, a feeling of uncertainty in the military services and safety sphere. In the fiscal discipline, even so, we have heard it at minimum because 2007, when the fantasy of this fantastic economical security was shattered – he explained.
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According to prof. Witold Orłowski in Poland, now “we are heading towards economic downturn”. – It is evident to me that at the end of the year we will have a economic downturn. We will most likely have the so-called technical, statistical recession (in a minute – ed), but this is not legitimate, it is a statistical illusion. A correct economic downturn is probable to await us at the conclude of the yr, he predicted.
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According to prof. Beata Javorcik, the consequence of the present global problem could be “a return to the state that plays a better part in the economic climate”. “The moment the populists get electricity, there is a great deal to be ashamed about,” she explained.
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Brown coal mine in the Czech RepublicPAP / EPA / MARTIN DIVISION
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Inflation. “It really is a world wide phenomenon”
The friends of TVN24 also talked about it inflation. – It would be incredibly tough for any central financial institution to stop the inflation we see. It is not just a Polish or European phenomenon, it is a world wide phenomenon. In particular in Europe, this inflation is associated with highs energy prices Javorcik was saying. He mentioned that “gas charges are 10 times larger than in the very last 10 years”.
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On the other hand, Javorcik informed TVN24, the prices of other commodities, these types of as nickel, are falling in international markets. grain costs they are likely down and the marketplaces are expecting these selling prices to go down additional. “There is a genuine chance that this inflation will go down on its own,” she reported.
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photo-source">Major image supply: PAP / EPA / MARTIN DIVISION
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