Recession looming over all economies

Recession looming

An economist told the media Wednesday that there’s an “uncomfortably high” risk of the global economy being hit by the recession in the coming 12-18 months which would be irreversible by the policymakers.

 

The chief economist of Moody’s Analytics, Mark Zandi, thinks that the risks are high and that the recession might strike if something doesn’t stick to the script. He added that if they don’t have the recession in the upcoming 12-18 months their economy is going to turn out as a weaker one.

 

He further said that there are many factors required to avoid slowing down the economy while sticking to the script, which includes several remote factors like President of the USA Mr. Donald Trump not escalating the tariff war with China, the U.K. finding a resolution to Brexit and central banks continuing their monetary stimulus. Mark Zandi said CNBC’s “Squawk Box Asia” there are pretty high chances of the global economic recession.

 

Though economists appeared less worried about a recession, they agreed to Zandi’s sentiment about the weakening of the growth.

 

Eswar Prasad, who is a professor at Cornell University, when asked about giving their opinions about the recession, he said that though the faltering of the momentum of other sectors is not sustainable, consumer spending has helped support growth in several economies.

 

He further told CNBC’s “Street Signs Asia” on Wednesday that the consumers and households cannot be counted on to keep growth going. So, the only solution is to set up policies that are going to spur a revival of business and consumer confidence and end up boosting investments.

 

 

Shreyas Tanna

About Shreyas Tanna

The winner of Mr. Pune 2009 Pageant, Mr. Shreyas Tanna is currently the young, dashing, and dynamic CEO of a market research company called Research N Reports in Pune. Fondly known as RNR, the company specializes in market research as well as industry analysis, and is closely associated with its parent company Absolute Markets Insights (AMI). Mr. Shreyas Tanna began his corporate journey as the Head of Corporate sales & PR at RED Entertainment while pursuing his degree for MMS (Marketing) from the MGM College of Management, Mumbai. After accomplishing the tedious task of balancing his work and education, he further polished his skills in Corporate Sales, Public Relations, Channel Development, Global Client Engagement, Strategic Consulting, and Brand Development by working with HDFC Life and ResearchMoz Global Pvt. Ltd. His dedication towards his work has even won him accolades such as the National Level Performer 2013 – HDFC Life and Mr. ResearchMoz 2015. A disciplined individual with a loving heart, he is often seen taking crisp walks with an engrossed look and a gentle smile within the premises of his company to interact with the various departments. And he will be usually followed by an adorable trail of his beloved trio of Shih Tzu babies proudly known as Gucci, Drake, and Paris. The most enticing thing that you will notice about this content and proud pet parent is his infectious positivity and the firm belief in his eyes, a reflection of his favorite quote, “LIFE IS BEAUTIFUL!”

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