FT News Briefing Martin Wolf: are we heading for a global recession?
Jul 5, 2022
Record high European power prices are sparking concerns as gas supplies from Russia dwindle. Foreign investors are withdrawing massively from Indian shares, prompting discussions about shifting investment strategies. The podcast delves into whether we're on the brink of a global recession, exploring the impact of rising interest rates and inflation on consumer spending. Despite these concerns, it suggests that a major economic collapse might be unlikely, reflecting on historical echoes that resonate with today's financial climate.
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European Energy Crisis
- European electricity prices hit record highs due to Russia's gas cuts.
- Issues at French nuclear plants worsen the energy crisis.
Indian Stock Market Dynamics
- Foreign investors have sold a record $33 billion in Indian shares since October due to a risk-off environment.
- However, domestic Indian investors have been actively buying, preventing a larger market decline.
Investment Shift Back to China
- Some foreign investors are shifting back to China after pulling out.
- This reallocation might be happening at the expense of investments in India.