The twin shocks of the Israeli-US attack on Iran and Donald Trump’s tariff war come as global GDP growth continues to slow precipitously. Given that it doesn’t take much to tip an economy nearing its “stall speed” into outright recession,
these crises and their combined effects are setting the stage for a worldwide downturn.
NEW HAVEN – The outbreak of a new war in the Middle East, together with a destructive tariff war,
makes for a lethal combination in a sluggish world economy. Notwithstanding the possibility of a tentative ceasefire, the odds of imminent global recession have increased sharply.
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