It's not hard to see why many experts are predicting a new recession soon.
There are several major economic factors that point toward another downturn in just a few years.
The first is the trade war between China and the US.
This started in March 2019 when China retaliated against US tariffs by placing tariff taxes on American products.
This escalated rapidly from there as both countries levied additional taxes on each other's products.
By August 2019, both nations were losing billions of dollars every month due to this trade war.
We may only be in round one of this war as both countries look for ways to recover from these economic hardships.
Many people still think that the Great Recession ended in 2009 with the subprime mortgage crisis.
While this recession was far less severe than the Great Depression, it was still brutal for many countries around the world.
This recession started in 2007 and lasted for seven years before finally coming to an end in 2019.
It was the longest recession since the 1930s, and it caused a lot of problems for many countries around the world.
Many economists believe that this recession will go down as one of the worst in history due to how long it lasted and how widespread it became.
They feel that we're still recovering from this recession now and that another one is imminent.
The 20th century was an eventful period for the world.
It saw several wars, natural disasters and political uprisings.
However, it was also a time of rapid economic development and advancement in technology.
One of the highlights from the 20th century was the introduction of airplanes, cars and television.
The year 2000 saw the evolution of e-mail and the global internet.
Even though the century wasn't without its flaws, it did bring some significant advancements that we take for granted today.
Although there are many predictions that we will see some major changes by 2030, 2023 seems far-fetched at this point in time.
Based on current trends, experts predict that we'll see another major recession within 3-5 years.
While there are several warning signs that point toward another downturn soon, there are also solutions being discussed online to prepare for this crisis again.
Both China and America are recovering from their recent economic slumps and have plans in place for when another recession hits them again.
That said, there's still no guarantee that we'll be heading toward a brighter economic future anytime soon!