Why Is the Global Economy So Resilient?
With the global economy having weathered major trade and energy shocks over the past two years, growth should improve in 2027, and inflation should fall. Although various political and policy-driven risks could change th
Hassan Ghaedi/Anadolu via Getty Images Why Is the Global Economy So Resilient? Oct 2, 2026 Nouriel Roubini With the global economy having weathered major trade and energy shocks over the past two years, growth should improve in 2027, and inflation should fall. Although various political and policy-driven risks could change the outlook, they remain less likely than the relatively benign baseline scenario.
NEW YORK—Despite the rising risks, uncertainties, and large negative supply shocks of the last two years, stock markets and the overall global economy have held up quite well. Following the shock of US President Donald Trump’s “Liberation Day” (April 2) tariffs in 2025 came this year’s Iran War, which caused the largest energy shock since the oil crises of the 1970s.