The global economy has never been so connected—nor so prone to disruption. Geopolitics, international events, extreme weather, and supply chain pressures can cause ripple effects across countries and industries.

While much of the world is rebounding from the COVID-19 crisis’ economic downturn, global supply chains are facing continuing pressures from changes in consumption patterns, surging demand for goods, shortages of workers, and pre-existing political pressures.

Geopolitical tensions are surging and core inflation is expected to move higher. The U.S. Federal Reserve and other major central banks around the world are preparing to tighten monetary policy, banks’ liquidity may be reduced and financing conditions could worsen.