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RWIU - Protracted G7 Contraction - Or Multiyear Global Depression
Direxion FTSE Russell International Over US ETF Direxion Shares ETF Trust
Current estimates for major advanced economies remain too optimistic, due to the mismanagement of the COVID-19, belated responses and premature exits, which have now caused far-earlier-than-expected secondary virus waves. As a result, the hoped-for V-shaped recovery will not happen in the 2nd quarter.
The Trump administration's catastrophic COVID-19 failures, along with premature exits to reopen the economy and leave the WHO will virtually ensure still new virus waves and longer contraction. In turn, US tariff wars are undermining the promise of the Asian Century.