Battered by the Covid-19 pandemic, the war in Ukraine and growing geopolitical tensions, the global economy creates a number of difficult choices for economic policymakers, both on the monetary and fiscal side, writes Associate Fellow Alessandro Merli in his chapter "The Global Economy Between the Pandemic and the War", for the book "Humanism in Marketing", recently published by Palgrave Macmillan. The uncertainty about economic prospects and short-term policy decisions also makes it more complicated to act on longer-term problems, such as climate change, the impact of new technologies, including AI, and the aging of the population.