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Krugman expects to see a global recession this year, warns 'we don't have an effective response'


Added 02-11-19 05:02:01am EST - “There is a decent chance the world economy is headed for a recession in 2019, according to Nobel Prize-winning economist Paul Krugman.” - Cnbc.com

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Posted By TheNewsCommenter: From Cnbc.com: “Krugman expects to see a global recession this year, warns 'we don't have an effective response'”. Below is an excerpt from the article.

There is a decent chance the world economy is headed for a recession in 2019, according to Nobel Prize-winning economist Paul Krugman.

Market participants are increasingly worried about the prospect of a serious economic downturn over the coming months, with a long-running U.S.-China trade war souring business and consumer sentiment.

Most economists, as well as some the world's business elite, agree that economic growth is slowing but policymakers have expressed some hope for a soft landing rather than an outright recession.

Speaking at the World Government Summit in Dubai, United Arab Emirates on Sunday, Paul Krugman said there are good reasons to be skeptical about this scenario.

When asked whether investors should expect to see a recession over the coming months, Krugman replied: "I think that there is a quite good chance that we will have a recession late this year (or) next year."

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