Winter is coming. Global recession, too?

GZERO World with Ian Bremmer

GZERO Media

Politics, News, Foreign Policy, News Commentary, Government, Geopolitics, International Relations, Ian Bremmer, Trump, Global Economy, Gzero World

4.7 • 830 Ratings

🗓️ 15 October 2022

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Inflation is on the rise, at a rate we haven't seen in through in decades. Is a global recession inevitable? Ian Bremmer speaks to Kristina Georgieva, Managing Director of the International Monetary Fund and David Malpass, President of the World Bank, on the GZERO World podcast. Both guests are leading global efforts to get inflation under control, lift millions out of extreme poverty and prevent the next global recession. Whether they’ll succeed is very much an open question. Malpass says the chances of a global recession in 2023 are 50/50, though he is more worried that the middle-income and poorest countries are moving backward in education, health, food insecurity, and capital flows. He also clarifies his views on climate change. Georgieva says the risk of a global recession has gone up due to three major reasons: the big global economies are slowing down, inflation is speeding up, and the world’s global order is fragmenting. She also explains how Europe should brace itself for a dark winter, even though the next one will be even harder. The silver lining, however, is that Europe is going to accelerate its green transition.

Transcript

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0:00.0	Well, you look at the emissions going up, even when the economy is slowing down.
0:05.0	So we have lost time.
0:08.0	And the question is, are we eager to move, to catch up?
0:14.0	And that is something that we have to press very hard for,
0:19.0	because time is not our friend.
0:24.7	Hello and welcome to the G0 World Podcast.
0:27.7	This is where you'll find extended interviews with the newsmakers I talk with every week
0:31.5	on my public television show.
0:33.8	I'm Ian Bremmer and today we check under the hood of the international economy. And let's just say it's time to bring the cat of the shop. I'm Ian Bremar, and today we check under the hood of the international economy.
0:38.1	And let's just say, it's time to bring the cat of the shop.
0:41.4	I'm from Boston, you know.
0:42.3	Luckily, both my guests today are leading global efforts to get inflation under control
0:48.0	to lift tens of millions out of extreme poverty and to prevent the next global recession.
0:53.4	Whether they'll succeed is very much an open question.
0:56.6	I'm talking first with Kristolina Gorgueva. She's managing director of the International Monetary
1:00.8	Fund. And later, with David Malpass, president of the World Bank. Let's get to it.
1:10.2	The G0 World podcast is brought to you by our founding sponsor, First Republic.
1:17.4	First Republic, a private bank and wealth management company, places clients' needs first
1:22.2	by providing responsive, relevant, and customized solutions.
1:26.8	Visit firstrepublic.com to learn more. In a world upended by
1:31.4	disruptive international events, how can we rebuild? On season two of Global Reboot, a foreign policy
1:38.2	podcast in partnership with the Doha Forum, FP editor-in-chief Ravi Agarwal engages with world leaders and policy experts
	...

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