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WIRTSCHAFT

Welt Bank Chef warnt vor globaler Rezession

By Ninian Carter

May 26, 2022 - Der Präsident der Welt Bank warnt, dass Russlands Invasion der Ukraine, in Verbindung mit Abschwächung durch Chinas Pandemie Lockdowns – vor allem in Shanghai – könnte eine globale Rezession auslösen.

The president of the World Bank warns that Russia’s invasion of Ukraine could cause a global recession as food, energy and fertiliser prices rise, adding that many European countries are also still too dependent on Russian oil and gas.

David Malpass says that reduced growth expectations for China due to a series of coronavirus lockdowns in major cities - including the financial, manufacturing and shipping hub of Shanghai – is adding to concerns of an economic slowdown.

His comments are the latest warnings over fears that the world economy may be set to contract, most acutely in Europe, and the UK, as a result of their proximity to the Russian energy price shock.

Last month, the World Bank cut its global economic growth forecast for this year by almost a full percentage point, to 3.2%.

Sources
PUBLISHED: 26/05/2022; STORY: Graphic News
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