The growing threat of global recession
The odds of recession in Europe, the United States and China are significant and increasing
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Kenneth Rogoff
Is the global economy flying into a perfect storm, with Europe, China, and the United States all entering downturns at the same time later this year? The risks of a global recession trifecta are rising by the day.
A recession in Europe is almost inevitable if the war in Ukraine escalates, and Germany, which has been fiercely resisting calls to pull the plug on Russian oil and gas, finally relents.
