Uneven Global Economic Growth and Inflation Pressure Mark 2026, Experts Warn

As 2026 begins, the global economy finds itself under sustained pressure with uneven growth trajectories and persistent inflation challenges, according to leading economic analysts. Hans-Jörg Naumer of Allianz Global Investors highlights that while the global economy remains generally stable, economic momentum varies sharply across regions. Inflation continues to be a particularly robust concern in the United States, complicated further by the impact of new and existing trade tariffs that may drive prices higher, intensifying challenges for central banks tasked with balancing growth support and inflation control.

Adding a broader systemic perspective, Carles Manera, a professor at the University of Barcelona and Bank of Spain council member, describes the global situation as a "self-induced crisis." Manera attributes current economic difficulties to neoliberal policies established since the late 1970s, which prioritized deregulation, privatization, and financial sector dominance. He traces the decline of the U.S. industrial base—losing over five million industrial jobs since 1990—as a symptom of these policies. Manera contrasts this era with the prosperous post-war period from 1950 to 1973, marked by strong public investment, progressive taxation, and rising wages.

These analyses paint a picture of an uneven global recovery hampered by structural legacies and policy challenges. Inflation’s stubbornness, especially in the U.S., combined with economic divergence across regions, complicates central banks’ efforts to maintain stability. Meanwhile, the long-term consequences of neoliberal economic frameworks continue to shape growth prospects and inequality trends.