These days, it seems that there is no end to hardships. If it is not a deadly virus, it is a geopolitical confrontation. Even the strongest cannot cope with such pressure. Analysts believe that economic shocks are extremely bad for developed countries. Therefore, the US is likely to experience a slowdown in economic expansion quite soon. If such countries as the US risk facing economic doldrums , other countries should brace for the worse.
It is quite curious given that the United States' economy is the largest in the world as measured by nominal GDP. Economists warn that should the US economy shrink, it will adversely affect other states as well. They have revised their forecast after studying the results of a survey of CEOs of large insurance companies that collectively manage assets worth $13 trillion. So, 60% of respondents reckon that the national economy will experience a significant decline over the next two to three years. 59% of the surveyed assume that one of the main macroeconomic risks for investors is inflation eating out the return on investments. 28% of CEOs participating in the survey are sure that inflation is the biggest threat to the economy.
Jamie Dimon, the CEO and chairman of the biggest US bank by assets, is confident that the US economy is facing unprecedented risks. This is why there could be some dramatic upheavals. "Three forces are likely to shape the world over the next several decades: a US economy rebounding from the Covid pandemic; high inflation, and Russia’s invasion of Ukraine. They present completely different circumstances than what we’ve experienced in the past – and their confluence may dramatically increase the risks ahead," he noted.
