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OppenheimerFunds CIO: There won’t be an economic recession for at least 5 years

“There won’t be an economic recession in the next five years despite growing fears among economists about a slowdown, OppenheimerFunds Chief Investment Officer Krishna Memani said on Monday” writes Berkeley Lovelace Jr for cnbc.com. The heightened probability came amid worries about the U.S.-China trade war, which has seen each side imposing tariffs on each other’s products.Concerns about a global economic slowdown will put pressure on politicians and world leaders to reach deals, including on the U.S.-China trade war, said Memani, whose firm has $213 billion assets under management as of Dec. 31, 2018. “[But] there’s no recession imminent.Surely to stoke anger at the White House, China on Monday announced that its 2018 trade surplus with the United States was its largest in more than a decade.
 
Source: cnbc.com



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