China forecast to tip world into recession
China's continued slowdown may drag global growth below 2%, says Morgan Stanley executive
New York
FORGET about all the shoes, toys and other exports. China may soon have another thing to offer the world: a recession.
That is the prediction from Ruchir Sharma, head of emerging markets at Morgan Stanley Investment Management, who says a continuation of China's slowdown in the next years may drag global economic growth below 2 per cent, a threshold he views as equivalent to a world recession. It would be the first global slump over the past 50 years without the US contracting.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons
BOE reports record usage of short-term liquidity repo
Philippines central bank not seeing rate hike despite peso weakness: finmin
Middle East tensions threaten global progress on inflation: World Bank