BUSINESS & REGULATION
Former World Bank chief economist weighs global recession threat
HKS Professor Carmen Reinhart, who recently returned to Harvard Kennedy School after serving as chief economist at the World Bank, discusses the global economic outlook in a new Harvard Gazette interview. While Reinhart says, “the inflation challenge is still with us” in the United States, she sees the risk of recession especially strong in Europe, where the ongoing war in Ukraine has taken a significant toll on energy markets. Reinhart also says that emerging markets are struggling and no longer benefiting from large loans from China, as was the case in prior economic crises. “China will be a question mark,” Reinhart says. “On a sustained basis, I think the era of very high growth is behind them.”
Also see: HKS Professor Tony Saich and Alexandra Vacroux from Harvard’s Davis Center for Russian and Eurasian Studies consider the economic impact of the war in Ukraine and the responses of China and the United States.