But while he predicted the downfall of Washington, Mr Bremmer warned the world does not know which country is yet to overtake the US on the global stage.

Speaking at the ANZ Finance & Treasury Forum in Singapore, Mr Bremmer said: “This geopolitical recession is something really simple — it’s the end of the US-led global order.

“And we don’t know what is replacing it yet.”

Mr Bremmer, who is the president and founder of political risk consultancy Eurasia Group, said he was “much more concerned” about what happens “when the next economic recession hits”.

He continued: “Certainly there’s not as much free money, and when the corporates are tightening their belts, then we’ll get into trouble.

“In other words, the political implications of the next economic down-cycle will be much greater dislocation.”

According to Mr Bremmer, relationships between the US and Europe have already begun to deteriorate.

He theorised how America was “less interested in exporting democracy” and more concerned with “exporting populism”.

Mr Bremmer also took note of a rise in China and said that, overall, emerging markets are becoming more important.

He said: ”So that is one big reason why we have entered a geopolitical recession.

“Because all of the major international underpinnings of the US-led order have become unmoored over the last 25 years.”

Meanwhile Mr Bremmer also made terrifying predictions about the capabilities of cyberattacks, going as far as calling them the “thing that could blow us up”.

He noted the NotPetya ransomware attack in 2017, crippling major organisations all over the world, such as the shipping giant Maersk.

The attack forced Maersk to halt operations and led to an almost complete infrastructure overhaul, according to the company at the time.

As seen on
Daily Express :: City and Business Feed

LEAVE A REPLY

Please enter your comment!
Please enter your name here