Global Economy: Doom or Gloom?

By Morningstar |  14-10-21 | 

Last year, the global economy witnessed the sharpest, but also shortest, recession of modern times. This year, global growth rebounded strongly. However, Joachim Fels believes that this is a very different economic cycle, coming out of a recession driven by lockdowns and voluntary social distancing, rather than underlying economic and financial strains.

An onset of fiscal fatigue (in which governments return to a more cautious stance) would be a significant risk to the expected economic recovery, more so in 2022.

While there is modest upside for commodities, driven by accelerating global growth, investment in infrastructure, and generally tight levels of current inventories, it is wrong to assume that we are at the start of a new commodity supercycle.

A spike in inflation rates does not necessarily translate into spiral inflation.

Joachim Fels is Managing Director and Global Economic Advisor at PIMCO.

Veteran investor Ramesh Damani will engage Fels on the higher-than-usual amount of uncertainty in the global economic outlook, and Fels' perspective on what’s a concern, and what isn’t.

Tune in to this engagement at the Morningstar Investment Conference.

When? October 28-29, 2021

Where? It is digital, so you can participate from wherever you are

Cost? None, registration is complimentary for all

Register NOW!

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