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Friday, July 3, 2020

Executive Insider

These Five Countries Are At Risk Of Recession

Citing geopolitical tensions and trade standoffs, the International Monetary Fund downgraded its World Economic Outlook for 2019 to 3% (down from 3.2%), and to 3.4% from 3.5% for 2020. These five economies (China, Hong Kong, Germany, Italy, and the United Kingdom) are at risk of recession. It won’t take much to push them over the edge.

These five countries are at risk of recession

  1. China
    Why: The US-China trade war has continued to take its toll on the Chinese economy, with the International Monetary Fund forecasting 5.8% growth for China in 2020 – down from 6.9% in 2015, 6.7% in 2016, 6.8% in 2017, 6.6% in 2018, and 6.1% in 2019.

  2. Hong Kong
    Why: Following almost 5 months of anti-government protests, the Asian financial hub has fallen into recession and is unlikely to achieve any growth this year.

    Hong Kong

  3. The United Kingdom
    Why: With its ongoing uncertainty over leaving the EU (and still no end in sight), has watched its economy recently shrink for the first time since 2012, and a no-deal Brexit could well slide it into a recession.

    London, UK

  4. Italy
    Why: While the Italian economy fell into a recession in the final 3 months of 2018, it managed to dig itself out earlier this year. But, with mounting debt, high unemployment, weak productivity, and political turmoil, the country has been dubbed Europe’s “economic rot”.

  5. Germany
    Why: The Deutsche Bundesbank warned the country’s economy may have shrunk for its 2nd consecutive 3-month period, which would mean the eurozone’s biggest economy has entered its first recession in 6 years. The German economy declined 0.1%t in the three months to June — meaning it’s officially in recession.


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Ryan Miller

Ryan Miller

Global Assignment Editor
Ryan Miller is the Global Assignment Editor at CEOWORLD magazine. He covers anything and everything related to CEOs, CFOs, CIOs, senior management executives, business leaders, and high net worth individuals worldwide, whether lists or lifestyle, business or rankings. During his five-year tenure at CEOWORLD magazine, he has employed his expertise in data science across several roles. Ryan was previously responsible for data modelling and analytics, as well as secondary research, on the CEOWORLD magazine Custom Research team. He can be reached on email ryan-miller@ceoworld.biz. You can follow him on Twitter at @ceoworld.