Nobel Laureate Spence Says Global Recession a 'Distinct Possibility'

The transcript discusses the hypothetical impact of Brexit if it had occurred three years ago, highlighting potential economic and global influence consequences for the UK. It evaluates the current state of the UK economy, noting its strengths in finance and technology despite Brexit. The discussion also covers the global economic outlook, emphasizing potential recession risks due to existing fragility and possible shocks.

What would be a likely consequence of the UK leaving the EU with no deal, according to the discussion?

• Improved trade relationships

• Increased global influence

• Economic growth

• Diminished global influence

Which sector is highlighted as a strength of the UK economy?

• Tourism

• Finance

• Agriculture

• Manufacturing

What is a potential vulnerability for the UK economy post-Brexit?

• Loss of innovation

• Reduction in agriculture

• Financial sector difficulties

• Decline in technology

What factor could potentially push the global economy into a recession?

• Increased consumer spending

• Stable economic growth

• A significant economic shock

• A minor policy change

How has the OECD adjusted its global economic forecast recently?

• Increased by 0.5%

• Decreased by 0.3%

• Remained the same

• Increased by 1%