A global recession is coming, economists warn [Video]

The escalating trade war between the U.S. and nearly every single one of its major trading partners has sparked a flurry of predictions and concerns that a global recession could be around the corner.

And economists who spoke to CBC News say one is virtually inevitable, unless we see a big pivot from the U.S. soon.

“I don’t know how we would avoid it,” Mark Zandi, chief economist at Moody’s Analytics, told CBC News’s Power & Politics on Monday. 

“This is a pretty dark scenario, both for the U.S. and, by extension, Canada and the rest of the world.”

In the wake of U.S. President Donald Trump announcing sweeping global tariffs last week, the brokerage firm J.P. Morgan put the chances of a global recession at 60 per cent, up from 40 per cent at the end of March. 

“We haven’t seen this type of tariff trade war in a 100 years,” said Moshe Lander, …