The US-China trade war and a spike in oil prices from geopolitical tensions have the potential to push the world into recession next year, according to renowned doomsayer Nouriel Roubini.“It’s a scary time for the global economy,” the head of Roubini Macro Associates, sometimes known as “Dr. The rub for Roubini is that monetary policy makers’ ability to respond to shocks is impaired, with benchmark interest rates still at historically low -- and in some cases negative -- levels. High levels of debt will also pose a constraint, he said.Optimism will likely collapse “like in every other recession,” he said. As for blockchain, “it’s the most overhyped technology ever, it’s nothing better than a glorified spreadsheet,” Roubini said. “Nobody’s using it, and nobody’s ever going to use it.”--With assistance from Rishaad Salamat and Anna Luk.

Source: Economic Times July 03, 2019 02:37 UTC