GABA's Global Business Outlook
As 2021 is coming to a close, we’re headed into a new year that will be shaped by several key topics with wide-ranging international impact. During this event, we will highlight and discuss these topics with a panel of expert speakers. Oliver Schramm, Consul General of the German Consulate in San Francisco will give a welcome address.
The world economy continues to be broadly but unevenly affected by Covid-19 and its impact on local markets and the global trading system. Where vaccination rates are high, an economic recovery appears to be gaining speed as industries and markets are working through the original disruption of global supply chains. In countries with limited or delayed access to effective vaccines, the local economies and their health systems continue to be highly impacted delaying an economic recovery.
While many countries are providing significant financial support to businesses and their population, this monetary expansion is driving inflation to new levels and raising the question whether higher prices and salaries are a temporary phenomenon or whether inflation is here to stay. The current disruption of key supply chains (e.g. automotive) which is impacting prices is expected to subside later in 2022.
On the climate change front, the COP26 UN Climate Change Conference in Glasgow will provide insights into the global community’s willingness to commit to accelerated mitigating measures and set aggressive targets as time is running out to limit climate change impacts. The worsening international relations between significant contributors of harmful emissions will likely make global alignment more difficult.
Despite these economic challenges and high levels of uncertainty, the leading stock market indices remain at historic highs and we look forward to discussing what 2022 has in store for us.
This event will be held in a virtual format and will allow participation of a broader audience.