INSUBCONTINENT EXCLUSIVE:
Goyal on Thursday warned that the world economy will fall into a recession which will spare no country if the protectionist policies and
"unilateral measures" being adopted by some developed countries continue.Addressing the South-South and Triangular Cooperation summit here,
Mr Goyal said that the "the time has come to take on the policies of protectionism and unilateral measures by some developed countries that
are having an adverse effect on global free trade."Hinting at the costly impact of the trade tensions between the US and China, the Commerce
and Industry Minister said that if "protectionist measures continue, there will be recession in the world and no country will escape it".The
Goyal also said that the protectionist policies being adopted by some countries in the developed world are affecting engagement between
nations for trade in goods and services as well as for the protection of investments.US President Donald Trump recently threatened to pull
the US out of the WTO, accusing China and India of taking undue advantage of the "developing" nations tag, when these emerging economies had
Recession not only causes turmoil in the financial markets, but also causes the unemployment rate to soar, as both industrial production and
are also coming via the other historic indicator of recession -- the bond yield curve
The yield curve has typically inverted before recession, and it is currently nearly similar to what was seen ahead of the 2008 financial
crisis.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com
Catch all the Live TV action on TheIndianSubcontinent 24x7 and TheIndianSubcontinent India
Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.
