RELEASED - Trade Finance Talks - Sailing into 2023: Navigating the new year - Trade Finance Global

RELEASED – Trade Finance Talks – Sailing into 2023: Navigating the new year

By Brian Canup

Brian Canup is a former Editorial & Research Assistant at Trade Finance Global (TFG). He graduated with an MA in International Political Economy from King's College London, and a BA in Political Science from the University of Wisconsin-Madison.

Last updated on 22 Aug 2024

31 Jan 2023 1 min reading time

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Estimated reading time: 3 minutes

‘Permacrisis’ was crowned word of the year by the editors of the Collins English Dictionary at the end of 2022, defined as “an extended period of instability and insecurity”. It seems an appropriate term to describe the state of global trade, finance, and supply chains as we enter 2023.

There is a growing sense of uncertainty and instability worldwide, and decision-makers are left wondering if this hazy state of affairs is here to stay.

The start of the year is often a time for reflection, setting resolutions and taking a forward-looking view of the months ahead. Mirroring my personal aspiration for a ‘damp’ January, the outlook for trade also appears somewhat damp (rather than dry January, I have opted for a reduction, rather than a full withdrawal of alcohol consumption this month).

Predictions for 2023 hint towards a looming global recession, with inflation rates at their highest levels since the 1980s and the geopolitical situation remaining tense, spurred by the destructive escalation of Putin’s lingering invasion of Ukraine.

Read more in the foreword for what’s in store for shipping in 2023.

Deepesh Patel, editor, TFG

Carter Hoffman, assistant editor, TFG