Brace for recession
PETALING JAYA: Brace for the next recession, pundits have warned as central banks and governments scramble to unleash their financial bazookas to save the flailing global economy.
Some 12 years after the previous devastating global economic turmoil, one of the Big Three ratings agencies thinks that the world will enter into recession in 2020, with “a recession across Asia-Pacific now guaranteed.” S&P Global Ratings estimates the impending recession to result in US$400bil permanent income losses this year.
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