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The coming recession will lead to a profound structural shift, Mohamed El-Erian says There’s a tendency to see economic challenges as temporary and quickly reversible, but this time the world is headed for a profound economic and financial shift rather than just another recession, Mohamed El-Erian has warned. El-Erian is the chief economic adviser at Allianz, and former CEO of the influential bond market player PIMCO. The economist wrote in a commentary for Foreign Affairs magazine that a combination of pressures on supply, central bank tightening, and market “fragility” were all likely to weigh on growth. “Three
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