The Valenciaport Chair of Port Economics -of the University of Valencia and the Port Authority of Valencia- presents the 1st Quarterly Report on the international economic situation prepared by Dr. Vicente J. Pallardó.
The report shows that the evolution of the international economic situation is taking place at a particularly complex time. The legacy of the imbalances introduced into the global economic system by the pandemic resulting from COVID-19, an extremely adverse geopolitical situation and the ultra-expansionary (probably overly so) macroeconomic policy response to the last two recessions place the international economy, and especially the West, before a series of serious difficulties. Inflation rates unprecedented in almost half a century, continued disruptions in global value chains, the need to reverse (but not too much, in intensity and temporality, to avoid a significant recession) recent monetary and fiscal policies, and the dilemma of whether (and how) globalization should be rethought, not only for reasons of efficiency (not of costs, but of greater security of supply, at least of certain strategic goods - and raw materials) but also for geopolitical reasons.
[More information at https://www.uv.es/catedra-valenciaport-economia-portuaria/es/publicaciones/informes-coyuntura-economica-internacional-1286264783461/Publicacio.html?id=1286270886128 ]
