Will Europe’s ‘Third World’ Economic Crisis Lead To Global Recession?

Will Europe’s ‘Third World’ Economic Crisis Lead To Global Recession?

Share to Linkedin Netherlands leadership says Europeans need to get used to being poorer. Bad policy decisions leading ... [+] to one crisis after the next as layoffs begin in one of the most important economic regions in the world. (Photo by Hannibal Hanschke/Getty Images) Europe wants to blame Russia for all of its problems. But anyone who has spent a few years in the markets, and watching global business, knows that the sole source of Europe's problems is its radical post-fossil fuel economic policies. Russia is just the scapegoat. Will the world suffer the consequences of this policy direction; a direction the entire EU has long said it was taking? There are three things to consider here. First, China is also slowing down. Thanks to its zero Covid policy, which put part of Chengdu city on lockdown last week, China is also impacting supply chains. And while there doesn't seem to be any companies laying off because of this — as was the case last year when auto companies like GM temporarily furloughed workers because it couldn't get basic semiconductors from Asia. No one can discount China's slowdown as recessionary as China is the single largest consumer of commodities,