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Digital Subscriptions > Prospect Magazine > July 2016 > A three-part crisis

A three-part crisis

It could be worse than the crash of 2008

What is the biggest threat to the world economy in the year ahead? Forget about slumping industry in China, failing banks or unpredictable monetary policy. All these familiar economic problems pale into insignificance compared with the combined risks of Brexit, a Trump presidency and resurgent nationalism in Germany. If any of these threats are realised, the consequences will far outweigh the impact of the 2008 financial crisis. Just as in the 1930s, the upsurge of nationalism and protectionism turned out to be far more important than the 1929 stockmarket crash.

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About Prospect Magazine

In Prospect’s July issue: In her final issue as Editor Bronwen Maddox explores the legacy of former Prime Minister Tony Blair having spoken with him at a Prospect event on 24th May. She examines his domestic policy, the lessons from Iraq and Afghanistan and what the future holds for the Labour Party. The Chancellor George Osborne lays down his view on why the public should to “Remain” in the EU, and Ian Hargreaves takes a close look at what is happening at the BBC. Also in this issue: Former Conservative leader David Davis suggests he can see a very narrow set of circumstances that might push him towards running for the party leadership again, William Skidelsky writes about why tennis is the best sport and Vanora Bennett looks at Svetlana Alexievich’s extraordinary work recording Russia’s lost voices.
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