Oil has broken the US$100 per barrel mark again. In Europe, natural gas matters at least as much as oil. Gas prices have reached their highest level last week since the start of the war against Iran

While around 20% of oil and gas supplies were stranded in the Gulf, the global economy has continued to prosper. Trade is robust as societies are doing what they always do: finding ways to overcome obstacles. One of the largest synchronised capital spending cycles in history is being driven by a scramble to increase investment in defence, renewable energy and, of course, AI.

This briefing explains what government debt is, how much there is of it, and the interest payments made on it.

Acclaimed economist Eswar S. Prasad argues that the very forces expected to stabilise the world order are fuelling disarray. Globalisation has deepened inequality in many countries, stoked political backlash and triggered trade wars. we are caught in a destructive feedback loop between economics, domestic politics, and geopolitics. With instability the new status quo, we need radical solutions to reinvigorate the world economy, prioritise common aspirations – and halt the downward spiral.