Global macro & industry key themes for 2022

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      <subfield code="a">We see a still-complex global economic environment in 2022. Major issues such as high Covid-19 infection rates, above-target inflation and supply chain risks will carry over into 2022, when new challenges will also arise. The global economy will be moving into a later stage of its cycle, and there will be significant uncertainty around the outlook for interest rates, global political risk and the path of Covid-19. </subfield>
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