However, there were signs of a relative stability after a general decline on global financial markets. Still, this is not an indicator of the end of the crisis. Macroeconomic data shows that the world economy is in trouble. Analysis of trading at a global market level shows that there is a sharp reduction of goods, raw materials and assets.

Economists warn that we should not deceive ourselves when we see a rise in stocks, for example. Growth can turn to decline the very next day. Analysts claim that the world is in the early stages of a new economic crisis and there are the following signs of potential worsening of the situation.

The sings include an 11.2% fall in Chinese exports on a yearly basis last month and a simultaneous 18.8% plunge in imports compared to the prior year as well as a decrease in exports from India by 13.6% annually. Downside risks also include an 8% decline in Japanese exports in December and an 18% fall in its imports.

The economy of the United States also has a lot of sings that the crisis is looming. Thus, the US exports contracted 7% year on year in December, factory orders declined for 14 months in a row, and job cuts soared 218% in January. Moreover, 67 oil and natural gas companies in the US filed for bankruptcy in 2015.

As a result of collapsing oil prices, 35% of the world’s oil and natural gas firms are on the edge of bankruptcy. Even despite Saudi Arabia and Russia agreed to keep oil production at current levels, WTI crude is still below $30 a barrel.

Turmoil on global stock markets is yet another troubling sign. Most central banks have no more room for manoeuvre: monetary policymakers have cut interest rates 637 times over the past eight years and purchased $12.3 trillion in assets. It is unknown what consequences of the next global financial crisis will be. Unfortunately, there are all signs that the world economy and the global financial system are on the brink of the abyss.