Panayiotis Tzamaros | ullstein bild through Getty Photos
Lecture by Nobel Prize winner economist Paul Krugman in Athens, Greece on Friday, April 17, 2015.
There’s a first rate probability the world economic system is headed for a recession in 2019, in response to Nobel Prize-winning economist Paul Krugman.
Market individuals are more and more frightened concerning the prospect of a critical financial downturn over the approaching months, with a long-running U.S.-China trade war souring enterprise and shopper sentiment.
Most economists, in addition to some the world’s business elite, agree that financial progress is slowing however policymakers have expressed some hope for a comfortable touchdown reasonably than an outright recession.
Talking on the World Authorities Summit in Dubai, United Arab Emirates on Sunday, Paul Krugman stated there are good causes to be skeptical about this state of affairs.
When requested whether or not traders ought to count on to see a recession over the approaching months, Krugman replied: “I believe that there’s a fairly good probability that we are going to have a recession late this yr (or) subsequent yr.”
Paul Krugman is a famend American economist and professor emeritus of Princeton College’s Woodrow Wilson Faculty. He received the Nobel Prize in 2008 for his work on financial geography and figuring out worldwide commerce patterns.