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Deutsche Bank predicts growing economic inequality in the post-quarantine era
Among the key factors of the new era, Deutsche Bank experts consider the growing economic weight of China and the deterioration of its relations with the United States.
The “age of disorder” is replacing the 40-year age of globalization. This is stated in Deutsche Bank’s September review, released on September 9.
Among the key factors of the new era, Deutsche Bank experts consider the growing economic weight of China and the deterioration of its relations with the United States.
Also among the most significant trends is a new impetus for integration processes in Europe after the COVID-19 epidemic and the wider dissemination of the “helicopter money” policy.
“Not every mess is bad. We must emphasize that the new era should not be taken as a reason to abandon the purchase of financial assets, as the new era will bring large-scale interventions by the monetary and liquidity authorities,” say the Deutsche Bank experts.
But if the age of globalization was associated with a record rise in asset values, then the “age of disorder” threatens current global estimates, especially in real terms, the bank believes.
Deutsche Bank also predicts a possible rise in inflation, greater economic inequality in the post-quarantine era, but in the future: a shift in the trend toward higher taxes for the wealthy, greater competition between generations, greater concern for the climate change and a new technological revolution.
As reported, in 2020, the world economy is expected to “delobalize,” a growth slowdown to 3.4%, according to experts from consulting firm PwC.
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