Global Asset Allocation: The View From Europe

T. Rowe Price
By November 17, 2021 14:07

Global Asset Allocation: The View From Europe

Just as the global economy is finally gaining traction after delta variant setbacks, some economies are facing severe energy shortages, with energy prices up over 70% since last year. The impacts are being felt across Europe, which is facing shortages of natural gas, threatening to leave households without heat as winter approaches. Meanwhile, China, which cut coal production to meet carbon emissions initiatives, has quickly reversed course as the cutbacks created shortages, leading to fears of moderating growth. In the US, although not seeing the same degree of supply concerns, fuel prices have more than doubled since last year amid stronger demand and lower production levels. What has also been exposed amid this energy crunch is the pace of the transition from traditional energy sources to renewables. While the push toward green initiatives continues, economies will need to balance decommissioning traditional sources of energy as they replace with renewables, otherwise economies could find themselves running on empty, particularly if faced with future shocks.

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T. Rowe Price
By November 17, 2021 14:07

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