The United Nations has sounded off a warning that the world is “on the edge of a recession” and developing nations like those in Asia could bear the brunt of it. Monetary and fiscal policies in advanced economies — including continued interest rate hikes — could push the world toward a global recession and stagnation, the UN Conference on Trade and Development (UNCTAD) said on Monday. A global slowdown could potentially inflict worse damage than the financial crisis in 2008 and the Covid-19 shock in 2020, warned the UNCTAD in its Trade and Development Report 2022. “All regions will be affected, but alarm bells are ... (full story)