Four crises to solve: Habeck warns of a worldwide recession

Economics Minister Habeck spoke of several crises at the World Economic Forum in Davos.

Four crises to solve: Habeck warns of a worldwide recession

Economics Minister Habeck spoke of several crises at the World Economic Forum in Davos. They all have to be solved, otherwise a recession is imminent. This in turn would not only endanger climate protection, but would also have an impact on stability worldwide.

Vice Chancellor Robert Habeck sees the danger of a global recession. There are currently at least four interconnected crises, said the Federal Minister of Economics at the World Economic Forum in Davos, Switzerland. Specifically, the Green politician named the high inflation in many countries, an energy crisis, food shortages and the climate crisis.

"We cannot solve the problems if we only focus on one of the problems," warned Habeck. "But if none of the problems are solved, then I'm really concerned that we're moving into a global recession." A recession is a significant economic downturn. Experts speak of it when the gross domestic product is below the previous year's value for two consecutive quarters.

A global recession would have serious effects not only on climate protection but on global stability as a whole. If a part of the world suffers from hunger in the coming year, then it's not just about what's bad enough, but about global stability, said Habeck.

Worrying about energy security is not at odds with the larger goal of independence from fossil fuels, the minister said. "We have to see that we can't solve one problem at the expense of another." If fossil fuel production increases now and there are more coal-fired power plants, then there will be more difficulties in the future.

Habeck warned that there should be no turning away from global markets. If every country only takes care of itself, that will exacerbate the crisis. "We have to keep the markets open," said the Economics Minister. At the same time, however, the rules of the markets would have to change. It's not about de-globalization, but about more cooperation and solidarity.


6

Yorum yapabilmek için üye girişi yapmanız gerekmektedir.

Üye değilseniz hemen üye olun veya giriş yapın.

NEXT NEWS