Dr. Andre Haughton - file photo
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Dr. Andre Haughton
Opposition Senator and Economist Dr. Andre Haughton agrees that Jamaica should be able to weather a global recession.
Amid forecasts of a recession in two years, the International Monetary Fund (IMF) has also said Jamaica will be able to counter the ripple effects.
Senator Haughton said developing countries like Jamaica will still be able to increase output, because unlike the US which has been seeing falling stock prices, the local stock market, "appears to be robust as companies continue to perform above average."
"The looming recession is predicted to be a large economy phenomenon. These economies have dominated global output and with any natural business cycle after a peak, there must be a trough," he explained.
Dr. Haughton suggested that Jamaica increase goods and services that will remain in high demand during a global recession, such as technological services as well as the cannabis industry.
Last week increases in short-term lending rates triggered fears that trade tensions between the United States and China could lead to a recession.
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