Why This Time is Different: Introducing a Novel Type of Global Recession | Business Beyond

The global economy is at an inflection point. The IMF projects that a third of the world economy will be in recession next year. War in Europe, a slowdown in China and soaring inflation have contributed to widespread pessimism around a growing, multifaceted economic crisis. In this episode, we will untangle the threads of the looming global recession. By comparing the current state of the global economy to the 2008 financial crisis, we will be exploring what makes this downturn different. Chapters 00:00 Intro 01:19 What’s a recession 03:13 Recap of the 2008 crisis 04:47 Supply crisis 06:23 Inflation 08:49 Hiking interest rates 10:58 Strong labour market 13:15 China’s Zero Covid policy 17:43 Countries bucking the trend 20:06 Conclusion Subscribe: For more news go to: Follow DW on social media: ►Facebook: ►Twitter: ►Instagram: ►Twitch: Für Videos in deutscher Sprache besuchen Sie: #recession #inflation #economy...(read more)

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The world is seeing a new kind of global recession that is unlike any other. This time around, the reasons for the economic downturn are unique and are caused by factors that have never before been seen in history. The COVID-19 pandemic has created a situation where the world is struggling to cope with the crisis as it spreads across the globe. Many experts believe that this recession will be different from others, primarily because of how it has been triggered. Unlike the previous recessions that were caused by banking and financial failures, this recession is caused by sudden worldwide lockdowns that have dramatically affected businesses and economies globally. Governments worldwide have been forced to take unprecedented measures to contain the pandemic that has resulted in the loss of millions of jobs and the closure of many businesses. The COVID-19 pandemic is no longer only a global health crisis but has transformed into a global economic crisis too. Many countries are experiencing severe economic turmoil as both demand and supply for most goods and services have declined. This pandemic led to a loss of income and jobs that have created lasting repercussions for individuals and families as well as government deficits worldwide. In the past, global economic crises have largely been driven by issues that were confined to specific regions. This time, however, the impact of COVID-19 is on an entirely different scale. Some countries have been severely hit, while others have so far managed to remain relatively stable. However, even the countries that have managed to control the situation have not been immune to the global economic impact. Experts are predicting that the road to recovery will be a long and challenging one. Many businesses will have to adapt to new ways of operating, and there will be challenges as governments across the world attempt to manage deficits and implement stimulus packages. However, it is important to remember that the world has overcome previous economic crises, and this one is no different. The pandemic is still ongoing, and at the current stage, it is quite challenging to predict when it will ease off. The key to achieving a recovery that is sustainable and inclusive is global cooperation. Countries worldwide should collaborate with each other to create a more resilient and equitable global economy, without which the road to recovery will only be more prolonged. In conclusion, this new type of global recession caused by the COVID-19 pandemic is different from previous recessions in many ways. Its scale, complexity, and unique causes all play a significant role. The road to recovery will be challenging, but the world has the experience and knowledge to overcome the difficulties. With global cooperation and sustained efforts, this new kind of global recession can eventually be resolved. https://inflationprotection.org/why-this-time-is-different-introducing-a-novel-type-of-global-recession-business-beyond/?feed_id=88180&_unique_id=643b392861f08 #Inflation #Retirement #GoldIRA #Wealth #Investing #china #DWNews #economy #inflation #labourmarket #money #recession #salary #supplycrisis #ukrainewar #RecessionNews #china #DWNews #economy #inflation #labourmarket #money #recession #salary #supplycrisis #ukrainewar