Experts Predict World Economy Is Headed For A Recession In 2023

According to its publication World Economic League Table (also known as the WELT), research, the Centre for Economics and Business Research (CEBR) said that although the global economy will exceed $100 trillion for the first time in 2022, the economy will face a recession in 2023 as policymakers keep fighting against soaring prices. The report added “the battle against inflation is not won yet. We expect central banks to stick to their guns in 2023 despite the economic costs. The cost of bringing inflation down to more comfortable levels is a poorer growth outlook for a number of years to come.” The CEBR’s conclusions are clearly more pessimistic than the earlier forecasts by IMF in October. The organization warned that more than a third of the world’s economies would contract and that there was a 25% chance that global GDP will grow by less than 2% in 2023, and that is a global recession. Importantly, CEBR pointed out in its report that Communist China and the West are in the midst of an economic war, and the consequences of which will be several times more damaging than those caused by the Russo-Ukrainian war. But what is certain is that the world economy will suffer a sharp recession as a result and inflation will be back. The report stresses that the damage to Communist China from an economic war would be much more severe, and would even undo all the CCP’s years of plotting to dominate the world economy.