Tuesday, December 08, 2020

According to Professor Keita Shibayama, a New Financial Crisis Looms

©iStock/Richie Chan
Since the 1980s, leading nations have relied on the twin pillars of the promotion of globalization and fiscal consolidation.  However, the coronavirus crisis is bringing about a major change of direction. 

Below Keita Shibayama, a professor at Kyoto University (Japan) and a polemicist who has always spoken out about globalism talks about a post-COVID-19 world.

Quick snippet here:

In the economic crisis now unfolding, it will be difficult to find any escape routes overseas. The impact of the pandemic will go on for quite a while. Greater international friction will further impede trade, cross-border investment, and the movement of people. As uncertainty levels not seen in the past prevail, corporations, investors, and even governments will be pressed hard to rethink their existing approaches.

Authored for Nippon.com, Shibayama goes on to say that a new financial crisis looms.

No comments: