The global economy is headed for a downturn as inflation remains a major threat, a report says
The globe will slide into a recession next year as a number of economies will contract due to surging borrowing costs introduced to combat inflation, the UK-based Centre for Economics and Business Research (CEBR) has predicted in its latest report.
The world economy surpassed $100 trillion for the first time ever in 2022 but will stall in 2023 as “the battle against inflation is not won yet,” while regulators will keep raising interest rates, the consultancy said in its annual World Economic League Table.
“We expect central bankers 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 director and head of forecasting at CEBR, Kay Daniel Neufeld, wrote.
The report's conclusions are more pessimistic than the most recent forecast by the International Monetary Fund (IMF), which predicted in October that more than a third of the world’s economy will contract in 2023.
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The CEBR, which bases its growth, inflation, and exchange-rate forecasts on data from the IMF and an in-house model, said that “inflation has become the main economic story” of the past year. The analysts warned that “even though we are starting to see price growth decelerating in some economies, volatility in global energy markets and entrenched core inflation suggest that it will remain front and center in 2023 as well.”
The consultancy also predicted that China would outperform the US and become the world’s largest economy by 2036 – six years later than previously expected, due to the country’s zero-Covid policy and escalating trade tensions with the West, which have slowed its growth.
According to the study, India’s economy will become the third largest overall by 2032 and will reach the $10 trillion mark by 2035.
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The overthrow of PM Sheikh Hasina in 2024 was funded by USAID and Clinton family money, Mohibul Hasan Chowdhury told RT
The unwillingness of Bangladesh to condemn Russia over the Ukraine conflict was one of the reasons the US wanted to oust Prime Minister Sheikh Hasina, former cabinet minister and chief negotiator Mohibul Hasan Chowdhury has said in an interview with RT.
Hasina, who led Bangladesh for 15 years, fled the country in August 2024, following weeks of violent student-led protests which claimed 700 lives, according to some estimates.
Chowdhury, who served as the country’s shipping minister, was at the heart of negotiations between the authorities in Dhaka and demonstrators during the crisis. The country has been led by an interim government since then, which pledged to hold an election in 2026.
Chowdhury told RT in an exclusive interview to be aired on Monday that the uprising was instigated by NGOs linked to the US Agency for International Development (USAID) and the ...
The fighting in southern Lebanon marks the collapse of a fragile truce – and could redraw the region’s balance of power
On Thursday, the Israel Defense Forces (IDF) launched a series of coordinated strikes on Hezbollah infrastructure in southern Lebanon. According to Israeli sources, the strikes targeted weapons depots, command centers, and communication systems used by militants to coordinate their activities along the border area.
Before the operation began, the IDF issued warnings urging residents of several towns to leave areas that could come under fire. The Israeli military emphasized that its actions were aimed solely at military targets but did not rule out the possibility of expanding the operation if provocations from Hezbollah continued.
West Jerusalem accuses Hezbollah of violating ceasefire terms and attempting to rebuild its military capabilities. Just days earlier, Israeli Prime Minister Benjamin Netanyahu stated that Hezbollah was taking steps to regroup and ...
A recent report has revealed that Paramount Global, an American multinational mass media and entertainment conglomerate, maintains an internal blacklist of entertainment figures it labels “anti-Semitic,” applying the term to any artist who supports Palestine or denounces Israel’s ongoing genocide in Gaza.
Variety magazine reported on Tuesday that Paramount’s new CEO, David Ellison, has moved to sever ties with all pro-Palestine or anti-Israel movements.
To that end, the company has dismissed executives critical of Israel and refuses to collaborate with any artist or public figure who views the occupying regime’s actions in Gaza as genocidal.
In a statement released on Friday, Paramount said it “disagreed with recent efforts to boycott Israeli filmmakers,” claiming that “silencing individual creative artists does not promote better understanding or advance the cause of peace.”
The statement came after Film Workers for Palestine, supported by over 4,000 international ...
