Global Market Meltdown – 2016

DAVOS/SWITZERLAND, 20JAN16 - (FLTR) Paul Singer, Founder, Chief Executive Officer and Co-Chief Investment Officer, Elliott Management, USA and Martin Sorrell, Chief Executive Officer, WPP, United Kingdom, Min Zhu, Deputy Managing Director, International Monetary Fund (IMF), Washington DC and Kenneth Rogoff, Thomas D. Cabot Professor of Public Policy and Professor of Economics, Harvard University, USA are captured during the session 'Preventing Future Shocks' at the Annual Meeting 2016 of the World Economic Forum in Davos, Switzerland, January 20, 2016. WORLD ECONOMIC FORUM/swiss-image.ch/Photo Valeriano Di Domenico

At the World Economic Forum in Davos, Switzerland, business leaders have been expressing their thoughts as Brent slides below $30 a barrel. Oil’s slump to a 12-year low is ripping through markets. Business leaders and economists disagree among themselves that 2016 will be another 2008 - global economic meltdown. Oil prices are too volatile to be predicted. As one of the panels said "Oil prices are so volatile. You just don’t know if the oil price will be 20$ or 100$ if you are looking in the next 2-3 years".

China's sluggish growth, volatile oil price and US political situation are all together driving the global economy down and make investors very conservative when planning their budgets for 2016. Political uncertainly is one of key risks that drive global growth which is about to slow down in the years to come.

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About the Author

Ver Pangonilo
A Filipino Engineer, Registered Professional Engineer of Queensland (RPEQ) - Australia and Professional Electrical Engineer (PEE) - Philippines with extensive experience in concept select, front-end engineering, HV & LV detail design, construction and commissioning of Hazardous and Non-Hazardous Area electrical installations in water and waste water pipeline and pumping facilities, offshore platforms, hydrocarbon process plants and pipelines including related facilities. Hazardous area classification and design certification (UEENEEM015B, UEENEEM016B, UEENEEM017B).
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