Experts argue over whether an Economic Downturn is on the way, and even those in favor debate on how severe it could become
Near the end of the 2011 film Margin Call, as the main characters struggle with the realization that they’ve contributed to the about-to-happen 2007 financial crisis, Jeremy Irons’ character casually states that such things are an inevitable occurrence, listing no less than 15 other economic crashes over the last 400 years.
It’s a powerful scene, and carries a powerful message.
The Pendulum swings both ways, peaks are followed by valleys, and the very nature of the economic cycle means there have always (and will always) be contraction separating the growth.
That 2007 financial crisis the film centered on was a rather powerful low, not as powerful as the great depression before it, but powerful enough to have left a mark on the world. The older generations lost their homes and careers, while younger generations carrying student loans on their shoulders were greeted with scare employment opportunities to pay it off. Those who weren’t as unlucky still faced difficult times, and those who saw it coming turned handsome profits. Everyone was effected in one way or another, but the world kept turning, the stock market has been steadily growing, and the economy has improved quite a bit over the last ten years.
Some wonder how they were so fortunate to be doing better now than they were before, others wonder if they’ll ever be able to return to the lives they once led. However, according to certain market analysts, we should all be wondering what we’ll do when faced with another.
A question we may or may not have to answer soon.
While figures like Tony James are sure the economy is going to do just fine, other experts are predicting an economic downturn between 2019 and 2021. Granted, even the believers can’t come to a consensus on how low the drop will be, with some expecting a manageable decline while some others foresee a recession even worse than the last.
Experts who see misfortunate on the horizon tend to cite the Trade War between America and China as a major contributing factor, oddly poetic seeing as it is a very product of the last recession.
Over the last ten years since the financial crisis hit, a sense of aggressive nationalism has been spreading around the world at a worrying pace. Conservative leaders have been using their respective populace’s frustration at lost jobs to inspire anger at outsiders, blaming foreign countries for their own financial woes and using that resentment to push isolationist policies. While Trump’s promised wall around Mexico may not be a reality yet, Britain really is leaving the European Union after just over half the population voted in favor of Brexit. Division like this will only make it more difficult for countries to cope should another recession hit, the global economy requires cooperation in order for everyone to overcome economic downturns.
International trade was founded on the principle of getting what you need from your neighbor by giving what they need in return, it’s a policy that has connected this great big world of ours like never before, and it’s a network that we here at Export Portal seek to elevate to the next level. We are developing our own proprietary blockchain technology, so that our buyers and sellers will be able to utilize decentralized ledgers and optimize their transactions.
Only time will tell what the future holds for the global economy, but no matter what happens, Export Portal will always be a trusted hub for business around the world.