Royal Bank of Scotland economists, say the global economy is in for a ‘very gloomy year’

Source: The Guardian

The Guardian states that the ”Royal Bank of Scotland has warned of a “cataclysmic year” for the global economy, triggered by a slowdown in China, as it urged investors to liquidate all assets apart from high-quality bonds.”

What are your views on ‘the bank’s gloomy outlook’? As the Guardian title states, ‘Is RBS right to forecast doom and gloom for the global economy?’ How badly does a sharp slowdown in China, effect the UK, the US and/or Europe on an economic scale?

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