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The Big One |
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Is
Recession a Foregone Conclusion?
A global recession is coming. That’s what
World Bank President David Malpass predicted at a meeting in the U.S. on
Wednesday in his latest warning over the global economy. With an energy
crisis triggered by the war in Ukraine and the impact of repeated lockdowns
in China stymieing manufacturing and shipping, “It's hard right now to see
how we avoid a recession,” said Malpass. Europe’s heavy reliance on
Russian-produced energy has left it particularly vulnerable to a “substantial
slowdown.” The world is already beginning to see the effects in the German
economy, the fourth largest in the world. (Sources: BBC,
Reuters) |
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