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‘We must change course’: UN warns that the world is on the brink of recession

2022-10-04 18:39:12       source:CNBC

October 4, 2022


The United Nations has sounded off a warning that the world is “on the edge of a recession” and developing nations like those in Asia could bear the brunt of it.


Monetary and fiscal policies in advanced economies — including continued interest rate hikes — could push the world toward a global recession and stagnation, the UN Conference on Trade and Development (UNCTAD) said on Monday.


A global slowdown could potentially inflict worse damage than the financial crisis in 2008 and the Covid-19 shock in 2020, warned the UNCTAD in its Trade and Development Report 2022.


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https://www.cnbc.com/2022/10/04/unctad-warns-that-asia-global-economy-headed-for-a-recession.html