2023 Recession - How we got here

The world has been through a difficult year, as the highest inflation in decades stifled post-lockdown consumption, forcing central banks to raise interest rates at an unprecedented rate. Their price control campaign may be working, however, it will cost the world 2023.

Factories can't keep up with demand. Prolonged restrictions create labor shortages. And energy prices skyrocketed. After that, the conflict between Russia and Ukraine broke out, causing fuel prices to rise even higher. The International Monetary Fund (IMF) warned that "the worst is yet to come, and for many, 2023 will feel like a recession".

The forecast that the global economy is falling into recession does not receive the concurrence of all economists. But with the growth rate forecast to continue to decline to a lower level after already plummeting in 2022, the recession scenario is highly likely to become a reality. Before we find a solution to deal with the upcoming economic tensions, in today's video let's find out what caused the economy to stagnant by looking back at the history of the world economy - the recessions that occurred and even the economic crises - thereby we have a more general view in finding solutions that are more suitable for today's economy so that you can survive, overcome – or even thrive – during this 2023 recession.

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Tom Peng - Entrepreneur and investor based in Vietnam. CEO of e-commerce and fintech companies. Teaching aspiring people business and success mindset in this YouTube channel.

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[KoljaMineralka]

Clearly you’re off by couple years at least…