The lecturer at Harvard American University, Dr. Vikram Mancharamani, warned of a global economic crisis within 36 months from now inevitable.

Mancharamani said during a session entitled “Is the world heading towards a global economic crisis?”: “I study economic bubbles, and I cannot know whether or not the economic crisis will occur, but there are indications that they will happen soon, especially since the boards of international companies have not You know where, when and how to invest?

He stressed that the coming economic crisis cannot be avoided, but it can be dealt with and viewed from a positive and optimistic perspective, pointing out that people have to worry about the occurrence of the crisis when all the greedy in their time become anxious.

Mancharamani enumerated the indicators that demonstrate the possibility of a global economic crisis in the coming years, notably the slowdown in the Chinese economy, and the accumulated debts that burden him, pointing out that China's bad debts reached 600 billion yuan in 2017.

He pointed to the American Consumer Confidence Index, on which 70% of the United States economy depends, explaining that the presence of very high consumer confidence, which is not compatible with reality, may lead to spending money that this consumer does not have, which represents a risk of financial bubbles and debt that cannot Pay it off.

China’s responsibility

Mancharamani accused China of being responsible for a large economic bubble which is one of the causes of the coming crisis because of its economy, which he said provided a huge supply of goods greater than potential demand, pointing out that the slowdown in the growth of the Chinese economy and the increase of accumulated and difficult debts enhance the possibility of the crisis.

He pointed out that during the past decade, the world witnessed a group of events that affected the global economy, among them the wars of virtual currencies, trade and technological disputes, and cyber security, pointing to the roots and factors that could explain the world’s turmoil and its current conflicts.

He explained that the first factor is what happens in China and the dumping of markets with goods, while the second factor lies in technology that produced many outputs with few inputs, as well as shifts in the field of energy, and the shift towards alternative energy sources that produced more than consumption.

Time bomb

Mancharamani saw that the demographic growth in the world and the growing population became a time bomb, if it is not properly absorbed, warning that the terrible population increase is putting demographic pressure on the global economy, especially with the increase in the level of human life.

He added that all of these factors led to what the world witnessed during the past years of the inequality that exists between the economies, which leads to strikes and demonstrations to the streets, and the spread of populism and extremism.

He said that the contraction of a number of countries in the economic returns led to economic disputes translated into trade wars, such as the trade war between Japan and Korea, which affects the dynamics of global trade.

He pointed out that the world no longer knows how to absorb the large population increase, especially in countries such as India, whose population growth increases by 1,800 people per hour, which constitutes a burden on the economy and labor markets, especially as employment is not qualified to adapt to technological developments around the world.

He believed that the investment should have gone to the commodities, but he started in technology, which put the technology companies under great pressure, wondering whether these big companies, such as "Google" and "Amazon", will remain the same size, or will split.

He stressed that the Sino-US issue is worrisome, so the rivalry between China and the United States is an issue that must be considered.