Harvard University economist and lecturer Dr. Vikram Mancharamani has warned of a global economic crisis within 36 months from now. He said that the coming global economic crisis cannot be avoided, but the world must deal with it, pointing out that the world's demographic growth and population growth has become a time bomb if it is not properly absorbed.
Mancharamani accused China of its responsibility to create a large economic bubble which is one of the causes of the coming crisis because of its economy, which provided a huge supply of goods greater than the potential demand for it, noting that the slowing growth of the Chinese economy and the increase of accumulated and difficult debts enhance the possibility of the crisis.
He said during a session that worked on "Is the world on the verge of a global economic crisis?", That during the past decade the world witnessed a set of events that affected the global economy, among them the wars of virtual currencies, trade and technological disputes, cyber security and others, indicating that there are roots and causes for these turmoil You can explain why the world is now turbulent and full of conflicts. He explained that the first shift is what is happening in China that created a large economic bubble by dumping markets with goods, noting that the other factor is technology that produced many outputs with few inputs as well as transformations in the field of energy and the shift towards alternative energy sources that produced more than consumption.
Mancharamani warned that the horrific population increase creates demographic pressure on the global economy, especially with the increase in the level of human life, indicating that all of these factors have led to what the world has witnessed during the past years of the inequality that exists between economies, which leads to strikes, demonstrators exit to the streets and spread 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, pointing out that the most important indicators of the crisis that the world must be cautious about are the growing Chinese economy where China has become the first in terms of economic growth, but the Chinese economy is slowing down
Now, China’s economy is accumulating increasingly difficult debts.
He said: "I study economic bubbles, and I cannot be certain whether the economic crisis will occur or not, but there are indications that they will happen soon, especially since the boards of directors of international companies no longer know where, when and how to invest, indicating that the world no longer knows how It is possible 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 since employment is not qualified to adapt to technological developments around the world