'India Should Not Rely On Catching Companies Moving Out Of China'

In an exclusive interview with Business Today's Rajeev Dubey and Joe C. Mathew, WEF Founder Chairman Klaus Schwab explains why, despite multiple doomsday predictions, he believes the global economy will not go into recession. More importantly, who could emerge as winners and losers from the global economic slowdown. Edited excerpts:

A cocktail of slow growth, economic nationalism and protectionism is troubling the global economy. Where do you see globalisation headed?

The reasons for deceleration in the global economy are interrelated and reinforce each other. The phenomenal upswing cycle in global economic growth that we have seen in the past was caused or prolonged by qualitative easing. We had an artificial driver in global economic growth rates in many countries. That ammunition of monetary easing has come to an end. So, we have to go for fiscal policies, though there are some