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Editor’s Sidelines, June 2022: It’s The Economy, Stupid

Forbes Asia June 2022 cover

Forbes Asia

“It’s the economy, stupid,” was a catchphrase famously created for former U.S. President Bill Clinton’s 1992 election campaign. It referenced the need to focus on economic matters as the world was hit by recession and rising inflation. In the emerging post-Covid-19 era, the pressing issues of lockdowns, travel restrictions and vaccinations are being replaced by more conventional ones that faced the U.S. and the global economy three decades ago: rising prices, higher rates, weakening demand and slowing growth.

As what’s old becomes new again, the period of Covid exceptionalism is now giving way to a world where basic economic principles—combined with geopolitics, tech innovation and other traditional factors—hold sway over what comes next. One example is that rising rates and tighter liquidity means tech firms are getting slammed while old-economy companies…

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