The annual Hindustan Times Mint Asia Leadership Summit held in Singapore, on 6 September 2019 witnessed some of the top leaders of the world from policymakers in the fields of science, arts, technology, and sports all came together under one roof at the summit to discuss the rise of Asia & the East, amidst the political and economic surge.
According to a report published in Hindustan Times, Economist Dr. Paul Krugman was one of the guest speakers at the Ht-Mint Asia Leadership summit 2019 and commenting on the issue of ongoing U.S-China war trade he said, “I am not predicting a recession next year. But, recession has never been forecast successfully by economists,” while delivering the inaugural address at the HT-Mint Asia Leadership Summit.
“Europe may be in a recession already – technically! The U.S is not, we have around 2% growth. I am not predicting a recession next year. But, recessions have never been forecasted successful by economists.”The Economist added that “the era of major global consensus on trade is over and Trade conflict between US and China will continue even if we have a new US President”.“It is not a question of whether China becomes the largest player in the world economy. Question is, will China back the set of rules that created such a reliant system. Will they behave like a good global citizen? Or Will they have a system that allows businesses to plan, grow and thrive.” He said.
Since trade negotiations between the world’s largest economies broke down in May, both U.S and China have piled up tariffs of billions of dollars on each other and had public spats.