Distinguished guests, ladies, and gentlemen—good morning, zao shang hao! I am honored to join you as we gather in person at the beginning of a new Spring. This season will see cities such as Beijing transformed by the dazzling colors of millions of flowers. Their beauty and vibrancy heralds fresh hope and opportunity. For the world economy, however, spring is yet to come. We expect 2023 to be another challenging year, with global growth slowing to below 3 percent as scarring from the pandemic, the war in Ukraine, and monetary tightening weigh on economic activity. Even with a better outlook for 2024, global growth ... (full story)