Dambisa Moyo
The rush to finance AI infrastructure is driving up borrowing costs just as governments grapple with mounting debt and persistent fiscal deficits. If the AI investment boom falters, falling valuations could choke off financing, with little room for fiscal and monetary policy to cushion the economic shock.
ISTANBUL—Today’s economic growth depends heavily on AI investment and fiscal spending. The International Monetary Fund estimates that AI could add up to half a percentage point to annual global growth over the next decade, raising the average rate from 3% to 3.5%.