By Afolabi Thomas
This has been rumoured to happen in 2016 from as far as even 2002. The global economic market crash has been one of the most talked about this year with many predicting the stage of events.
Economist Sherle R. Schwenniger said that many factors are included into this recession but he points the finger at China. The global supplier would suffer to what he called ‘oversupply’, where the U.S. would be propped up on false progress.
China holds the ‘monkey wrench’ to global recession
There has been large scepticism on China’s ability to lead global growth with eight consecutive negative forecasts on exports, including the most recent report of a decline by 25.4%.
Robert Kiyosaki, who made this prediction of the 2016 crash in his 2002 book “Rich Dad’s Prophecy”, stated that the recession wouldn’t start until the baby boomers would pass age 70.
But he follows many beliefs that the true screwdriver of this crash will be China.
Kiyosaki said two key factors have emerged since he wrote “Rich Dad’s Prophecy”: the likelihood of a bust in China and the “insanity” of quantitative easing.
China as of late have kept putting money into their banks to keep lending afloat, although this still raises questions of the piling of debt that could be building in the country.
“China has been in a bubble for 20-something years … It has propped up the US economy falsely. When [China] stops importing, the world crashes with them.” —Kiyosaki
Kiyosaki untill then has been apart of the group that fears that China will be at the forefront of the next recession.