Commentary: The global economy must adapt to avoid tumult this year

NEW YORK: The global economy faced many hurdles in 2025. The US government upended longstanding economic wisdom in a manner many economists feared would harm both the American economy and those of other countries. International institutions were sidelined, tariffs levied, the independence of the Federal Reserve questioned – all while debt continued to rise. Add that to geopolitical crises throughout the world and the nonchalant manner with which capital markets financed artificial intelligence, and there were many opportunities for market failures and recession. Yet the American and global economies recorded strong growth, and stock markets soared. It’s far from assured…