Meaning of “global recession” in the English Dictionary

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"global recession" in Business English

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global recessionnoun [ C ]

uk us ECONOMICS

a period when many of the world's economies are not successful and businesses experience a lot of problems:

Huge increases in world energy costs sparked fears of a global recession.
prevent/spark/trigger a global recession

(Definition of “global recession” from the Cambridge Business English Dictionary © Cambridge University Press)