There are five important shifts happening in the global economy right now

The first and most immediate is a necessary policy adjustment from reducing inflation to keeping it under control. 

the second important shift in the global economy is that supply conditions are far from stable.

the third shift relates to public finances. Simply put, the Fed must deal with the unwillingness of US politics to show any restraint over its budget.

The US budget deficit is twice the size it was at the same stage last year

Taking a wider horizon, the fourth shift is a requirement to pay more attention to India’s economic prospects. 

Chris Giles Financial Times 29 August 2023

https://www.ft.com/content/85c4bd8d-84a2-4008-b86a-946c14706b2e