The entire world market faces an economic recession worse compared to the Great Depression.
However, this might be accompanied by yet another possibly worse recession.
World authorities are currently providing trillions of dollars to help prop up their markets.
Sovereign debts they are currently racking up might push on the economy into a recession that is second, the EIU warns.
Earlier This week, the International Monetary Fund said the entire world market would shrink in its fastest rate in years, raising fears it’s going to be the worst downturn since the 1930s Great Depression.
The EIU says there’s a probability of a downturn.
A Possible debt crisis at any of These nations would immediately disperse to other developed nations and emerging markets, sending the worldwide market into a different – potentially much worse – recession.
Even though This isn’t a central situation for the EIU,”the long-term effect on expansion of mounting financial deficits across Western nations is unknown.
A third, or second, wave of the pandemic could produce the situation a lot more realistic.