Nobel Prize Winning Economist Thinks The World Is Heading Into Recession
The current market situation is not good also many experts are skeptical about the future of the world’s economy. From the last few months many economists are giving their opinion about the current situation of the financial market around the world, and so far the majority of them have a given pessimist view about the future. According to a renowned economist, Paul Krugman world is heading into recession, and soon in coming years, we will face some serious financial issues. Paul Krugman was present at Dubai’s World Economic Summit, and when asked about current economic conditions he said that we are on the verge of recession which might hit us by the end of this year or in early months of 2020. Paul Krugman is a renowned American economist who got Nobel prize in 2008 for identifying patterns in international trade. According to Krugman President, Donald Trump’s decision of trade War will leave its more negative impact on the world economy by the end of this year.
Donald Trump a few months ago started a trade war with China which is now taking a toll on the country’s economy. If we look into the reports, then it shows that currently the US economy is not in good condition and that’s why US stock markets are also not performing well. Many major companies have recorded less amount of sales especially those whose majority of the income comes from China or Asia. China has imposed a substantial amount of tariffs on American produced goods due to which company like Tesla, Apple have faced a problem in generating the right amount of sales form the Chinese market. On the other hand, the European market is also is not in a good situation because the majority of the countries have predicted slow economic growth for 2019. Now everyone has got worried when Paul Krugman said the world economy is on the verge of recession. Some experts think US-China shall end their controversial trade dispute.