THE world has witnessed a round of high inflation since 2021, which is more severe than most market watchers had anticipated. In response to rising inflation, central banks of developed economies have hiked interest rates one after another, having a pronounced negative effect on the global economy. China, affected by the phenomenon as well, has actively adjusted its policies to seek a way forward. As a result, both its economic growth and the external environment are now expected to improve this year.
Causes of inflation
