The Intelligence from The Economist Heavyweight-price fight: how to beat global inflation
Jan 20, 2022
Henry Kerb, Economics editor at The Economist, and Charlie McCann, Southeast Asia correspondent, delve into rising global inflation and its chaotic impact on economies, including the situation in Myanmar. They discuss how past U.S. economic policies have exacerbated current inflation issues and explore the political unrest in Myanmar after a military coup. McCann shares insights on the personal stories of defectors from the military, highlighting the risks they face and the weakening influence of the Tatmadaw amidst growing dissent.
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Global Inflation Resurgence
- Global inflation is hitting consumers hard worldwide, similar to the 1970s.
- Leaders are scrambling for solutions, but central banks hold the key.
1970s Inflationary Period
- The 1970s saw a similar global inflation surge, driven by US stimulus and oil shocks.
- It became a major political issue, impacting presidents from Nixon to Reagan.
Modern Inflation Management
- Today's inflation, while serious, is lower than the double-digit rates of the 1970s.
- We now understand how to combat inflation better, relying on central banks rather than ineffective campaigns.