Speaking from World Economic Forum 2026 in Davos, Eswar Prasad, Professor of Economics at Cornell University and former head of the IMF’s China division, offered a stark assessment of the world economy.
Drawing from his new book The Doom Loop, Prasad said the global system is entering a phase of deep instability, marked by the breakdown of long-standing political, economic and geopolitical arrangements that once provided balance and predictability.
According to Prasad, this is not a routine economic slowdown or a temporary disruption. Instead, the…
