Why the Arab world must prepare now for recession
Talk of the “next recession” is often dismissed as alarmist fear-mongering. The wounds of the 2008 financial crisis and the resulting downturn are still fresh despite positive results from a synchronized global recovery effort. In these politically charged times, economic pessimism is considered unfair criticism of the Global North’s flirtation with populism. Calls for caution and economic prudence are rarely taken seriously. However, no matter your political leanings or your particular school of macroeconomics, the signs of a recession are on the horizon.
Right or left, numbers do not lie, and economists and analysts are increasingly finding common ground with each new release of macroeconomic data in North America, Europe and Asia. Most experts agree that the global economy is on pace for another downturn. The only disagreement, it seems, is which data or metrics to rely on.