(Yicai Global) Nov. 22 -- As trade uncertainty adds to the pressures on the global economy, the US needs to return to multilateralism, according to the founder of the political risk research and consulting firm Eurasia Group.
The world also needs a stable, highly productive and more prosperous China to support global growth, Ian Bremmer told Yicai Global on the sidelines of Bloomberg's New Economy Forum in Beijing.
In contrast to concerns that the US or the global economy could slip into recession in 2020, he said that the US economy is still relatively stable, but 2021 will be the critical juncture. The US government faces a huge budget deficit, and problems are likely to surface gradually by 2021.
In a recent research paper, Bremmer warned that geopolitics has become the main driver of global economic uncertainty. From an historical perspective, geopolitical recessions are rarer than economic recessions but they last longer, he added.
Editor: Chen Juan