Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
1-min read

US-China Trade War Can Lead Global Economy Into Recession, Warns Economist Nouriel Roubini

US and China reached a truce at the recently held G20 summit in Japan but Roubini is still pessimistic that the countries can work out a long-term trade agreement anytime soon.

News18.com

Updated:July 3, 2019, 10:38 AM IST
facebookTwitterskypewhatsapp
US-China Trade War Can Lead Global Economy Into Recession, Warns Economist Nouriel Roubini
Nouriel Roubini, Chairman of Roubini Macro Associates. (Image: Reuters)
Loading...

The ongoing trade war between US and China is starting to cripple the global economy and might eventually lead to a recession, says economist Nouriel Roubini who called out the US housing bubble.

Roubini, while talking to Bloomberg TV on Tuesday, said: “The consequences of this trade and tech war and cold war [are] the beginning of de-globalisation ... and the decoupling of the global economy. We’ll have to redo the global tech supply chain. And eventually by next year, if this escalates, it will be a global recession.”

US and China, who have slapped tariffs worth billions of dollars on each other’s goods, reached a truce at the recently held G20 summit in Japan. Roubini, however, is still pessimistic that the countries can work out a long-term trade agreement anytime soon.

“My base case is the trade and tech war between the US and China is going to get worse. Manufacturing is already in a recession globally. It’s affecting services and the tech sector is in a slowdown,” Roubini added.

Roubini, often referred to as “Dr Doom” because of his bearish outlook, also pointed out signs of global recession that are already visible.

“It has already been in the data, the collapse of capex. And once the capex is down, the industrial production is down and the employment is down, and you have the beginning of a global recession that starts in tech, then in manufacturing, then in industry and then goes to services,” Roubini said.

| Edited by: Karan Anand
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results