1.1 Impending Global Economic Crisis

The global economy is facing a severe test, with signs indicating an imminent world-class economic crisis. The United States' frequent interest rate hikes is viewed as a 'drinking poison to quench thirst' strategy. This may further exacerbate global economic instability. Moreover, escalating geopolitical tensions, such as the Russia-Ukraine and Israel-Palestine conflicts are adding fuel to fire. These are signs of landmines waiting to explode into an outbreak. The uncertainty in the banking sector adds new elements of unpredictability to the global economy. These signs suggest that we are standing at the forefront of global economic turmoil. It is not just an economic crisis but a significant shock to the traditional economic system.