World Bank President David Malpass joins CNBC’s ‘Squawk Box’ to discuss global inflation and the potential for a recession in 2023….(read more)
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The World Bank has issued a stark warning that the global economy may be heading for a recession in 2023. In its latest Global Economic Prospects report, the World Bank pointed to several concerning trends that could potentially lead to a slowdown in economic growth.
One of the main factors contributing to this warning is the ongoing COVID-19 pandemic and its impact on the global economy. While many countries have made significant progress in controlling the spread of the virus and rolling out vaccination campaigns, the emergence of new variants and the unequal distribution of vaccines across the world continue to pose significant risks to the recovery.
The report also highlighted the potential for inflationary pressures to increase, driven by a combination of factors such as supply chain disruptions, rising commodity prices, and increased consumer demand as economies reopen. This could lead to central banks tightening their monetary policies, which in turn could slow down economic growth.
In addition, the World Bank warned of the potential impact of rising debt levels, particularly in emerging markets and low-income countries. The pandemic has led to a sharp increase in government debt as countries implemented fiscal stimulus measures to support their economies, and the servicing of this debt could put a strain on government budgets and hinder economic recovery.
Furthermore, the report noted that the pace of economic recovery has been uneven across countries, with developing economies and lower-income countries lagging behind their more advanced counterparts. This unequal recovery could exacerbate global economic imbalances and pose challenges for the overall health of the global economy.
The World Bank’s warning comes at a time when many countries are still grappling with the aftermath of the pandemic and trying to chart a course to a sustainable and inclusive recovery. It serves as a reminder that despite the progress made in containing the virus and reviving economic activity, there are still significant risks and challenges ahead.
In response to this warning, policymakers and global leaders will need to carefully navigate the delicate balance between supporting economic growth and addressing the potential threats to the global economy. This may involve coordinated efforts to address vaccine inequity, support for vulnerable economies, and measures to mitigate inflationary pressures.
Ultimately, the World Bank’s warning serves as a call to action for countries and international institutions to work together to ensure a strong, sustainable, and inclusive recovery from the pandemic. By addressing the underlying vulnerabilities and challenges highlighted in the report, the global economy can potentially avoid a recession in 2023 and set the stage for a more resilient future.
Now that we’re in the month of June, are the predictions you made two months ago valid?
During a recession, despite its negative impact, there are potential opportunities for strategic investments in the market if approached with caution. Additionally, market volatility during such times can present short-term buying and selling opportunities. It's important to note that this is not financial advice, but rather an observation that cash may not hold the same level of advantage during these circumstances.
USA recession only
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The globality is troubling as we decline into an abyss of global depression not recession. Call it what it is, the declining symptoms are dramatic. People are migrating in record amounts because the lower classes are being impacted first. Take a look at that and how it is creeping up on a global scale before it takes down even the USA. The modern globalization of this Babylon won't fall easily. That's how huge this is. The suffering at the lower half of this slowly creeping up depression is core to when and what will be happening soon to corporations as they narrow their markets and raise prices to accommodate the slowly dying markets that feed this Babylon. The totality of this pattern eating away from the bottom classes to the eventual higher classes will soon run out And who then will be left to market to? The economic is taking the lower classes out first and when the upper middles to upper classes, corporations and elites start crying World War 3 and persecution will begin. Read a book or its ebook entitled THE PHASES OF REVELATION, by myself Juan Carrillo.
He was right
The World Bank/WEF IS Behind it all
Not the global economy. The recession will be in western economies just like the bank failures and the eventual fiat collapse. These things will be specific to western nations.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in US.
Don't take your eyes off the PRIZE ….. no matter what the distractions maybe be around you. UNDERSTAND YOUR PURPOSE, I went from living an average life to making over 63k per month. It's amazing. The financial markets are full with opportunities, but I've learned a lot over the past few years to doubt that. The key is knowing where to focus. Well appreciated, Rodger Michael Karl.
Shut down the economy for 18 months; what do you expect?
That might have been the smartest observation I’ve heard in a while
The warning signs have been in the pipelines for a couple of years now. The central banks, the regulators, the gov all knew and are in on it, to, on purposely collapse the worldwide economic system, so they can bring in a new currency… the CBDC’s
Idiots! We are crashing and nothing can stop it!
Oh sure right intime for an election
Wow , all the fake news outlets are pretending we aren't in a recession yet. Liars.
Just because the Brandon administration changes the definition of a recession doesn’t mean we’re not in one lol..!! We most definitely are in a recession ..!! Just because spending is up doesn’t mean anything ..!! Of course it’s up the printed trillions during convid19 ..!!!
Crisises?
They have been saying this all my life!! There will be a recession in 2019, 2020,2021, 2022 and now for 2023?? so When is it going to be?? The amount of fear mongering is unreal! There can never be a crash or a massive recession or a stock market melt down as they just keep raising the debt ceiling, print more cash and manipulate the economy and things just keep going on and on!! Even if WW3 started there will never be a crash ever again! How can it happen when everything is fake???? I even feel if the whole world was destroyed in a nuclear war, the market would probably go up the next day on prospects that military stocks will soar upwards!!
I believe I should watch a video on "How to survive the current recession" given the state of things. Actually, it's a complete failure. The fact that some people could still earn more than $$$k in a short period of time astounded me. If that's still the case, please explain how.
Australia is ‘different’ — many Aussies think that the RBA’s job is to worry about greedy property investors or homeowners caught up in the houses & holes economy. The AUD was at 70 US cents at the end of January 2023 on the hope that China’s economy might pick up — energy costs are high, taxes are killing, food inflation is ridiculous, and mortgage repayments are a nightmare as Aussies get mired deeper an deeper in debt — however, the RBA will keep hiking interest rates because if it doesn’t then the Au$ will fall like a stone worsening core inflation… and remember — the AUD is a litmus test for the global economy i.e., if the global economy is good the AUD is strong, and otherwise the AUD will fall, as it is now. A falling AUD increases core inflation (grocery costs etc). While the RBA may not hike rates at the US Fed’s pace, it doesn’t really have a choice. Negative equity and a stagnant economy await Aussies in the next few years as fewer international students choose Australia, Europe declines, China’s working population declines and global coal, iron and tourism demand falls.
So we can’t use heat? To produce anymore
We've had about 6 Prime Ministers since this was made, and it looks like another one is about to go…..They're all ultra rich – our current PM is worth nearly a £1bn. He doesn't give a toss.
The masses are ALWAYS guinea pigs, when it comes to this stuff. Only certain ones are shielded.
Wow this was 3 months ago and most advisors are now saying don't buy anything and invest in gold and silver ??
Overpaid corporate heads and banks: sorry we did that. We won’t do anything about it because you all served your purpose. We will just make it worse and shrug our shoulders when you struggle harder than ever before. Your money will be worth nothing someday if we keep this up but again we don’t care. We could fix the worlds problems but that would interfere in our selfish pursuits and ability to stay where we are. Good luck
Bro at this point I’m just worrying about actually living life. Long walks by the lake, laying in the hammock having spiritual moments, riding my bike, talking to everyone, hugging and praying with strangers, etc. None if this crap worries me a bit, I’m going to be happy and relaxed, looking 15 years younger.
This is worse than a recession. This is a depression. Just look at all of the store closures.
80% chance in 2023 that the US economy will have a recession as interest rate, food prices, and the stock market are signs of a recession.
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Recessions are where millionaires are created. I feel for the older generation, but you should do everything possible to double and triple your investments if you are young or middle age.
The financial market has been a really tough one this past months, but I watched an interview on CNBC where the anchor kept mentioning "…Donna Lorraine Judge…". This prompted me to get in touch with her, and from October 2021 till now we have been working together, and I can now boast of $540k in my trading portfolio