2023 will bring hard times around the world.

COVID-19 policy in China is a perpetual disaster. People are dying and supply chains are again being disrupted. Making matters worse, several emerging market economies are on the verge of collapse. COVID-19, inflation, rising interest rates, unsustainable debt burdens, corruption, and poor macroeconomic policies are wreaking havoc on the economies of the developing world. South Africa is the poster child for corruption and poor policy. International financial agencies such as the IMF and the World Bank are working feverishly on stabilization and debt restructuring programs. Wealthy countries are procrastinating on providing more financial and technical assistance. China is nowhere to be found.