The possibility of a global economic slowdown took center stage during a fiery episode of Piers Morgan Uncensored when Professor Xueqin Jiang, often referred to as “China’s Nostradamus,” delivered a chilling prediction about the future of the world economy.
Appearing alongside economist Steve Keen, Jiang warned viewers that the current instability may be far more severe than a normal recession. The conversation quickly expanded beyond economics, touching on tensions involving Iran, the United States and the Strait of Hormuz.
The intense exchange has since sparked major online discussion, especially after both experts painted a bleak picture of what could lie ahead.
Professor Xueqin Jiang delivered his stark warning during the Tuesday, May 5 episode of Piers Morgan Uncensored, titled “Heading For Global DEPRESSION!” When host Piers Morgan asked directly whether the world was moving toward a recession, Jiang’s answer was immediate and far more alarming, as per a report by The Express.
Is the world heading toward a global depression?
“I think that we are heading toward a global depression,” Jiang said during the discussion. He described the situation as something much deeper than a temporary downturn.
“And this is a process that could take decades. We are in a new normal. We are in an undiscovered country. We are at a level of destruction, a level of pain and suffering that we are moving toward that is unimaginable. So buckle up!”
The warning immediately set the tone for the rest of the debate, which quickly shifted toward growing geopolitical tensions and fears surrounding the Strait of Hormuz as per a report by The Express.
Jiang argued that China had quietly played a role in easing tensions in the region through diplomatic pressure on Iran. “China is not sitting this out,” he said. “We have the ceasefire in place because China did a lot of backdoor diplomacy in order to pressure the Iranians to attempt a ceasefire.”
He added that such involvement was unusual for Beijing. “This is out of character for China. China does not like to involve itself in other nations' affairs, and so, I think, without Chinese pressure, we would not have the IRGC agreeing to the ceasefire in the first place.”
Why did tensions over Iran dominate the debate?
Jiang also criticized the United States’ approach to negotiations with Iran, claiming the situation had only intensified after talks involving Vice President JD Vance.
“The issue is that the United States continues to be unreasonable in negotiations with the Iranians,” Jiang said.
“The Iranians have done a lot in order to try to accommodate the Americans.” According to Jiang, the possibility of further escalation now appears increasingly likely, as per a report by The Express.
"But when JD Vance went to Pakistan for the first time to negotiate with the Iranians, basically, it was a very heavy-handed ultimatum to the Iranians. And after that, I think that the Iranians recognize that there really is no hope in negotiating with the Americans.”
“The Americans want to escalate. Why? We don’t know, but we can expect that over the next few weeks, the escalation will increase,” he continued. He also pointed to discussions about using U.S. naval ships to escort oil tankers through the Strait of Hormuz, calling it “clearly a provocation.” “And we might have an… incident which will allow Trump to justify a ground invasion.”
What fears did Steve Keen raise during the discussion?
Economist Steve Keen echoed many of the concerns raised during the panel and admitted he was deeply worried about where the conflict could lead. “I'm terrified about what the consequences could be here,” Keen said, warning that Iran’s strategy resembled “guerrilla warfare at a national level.”
Keen argued that any attacks on Iranian infrastructure could trigger devastating retaliation across the region, particularly involving vital water systems.
“You look at the other side, the Arabian side,” he said. “Some of them have 96% dependence upon desalination.”
He warned that attacks on desalination infrastructure could create catastrophic humanitarian consequences.
“If it goes that far, then we will, and they have no idea how this stupid attack is going to turn out, then that could mean that those areas have to be evacuated because people are not going to starve to death, they're going to die of thirst. Now, these horrific possibilities here are just ludicrous."
Calling the situation “a monumental failure of judgment,” Keen also criticized the United States during the debate and blasted former Trump economic adviser Stephen Moore as per a report by The Express.
"You guys have got a Hollywood version of your own history. It's a joke from the outside. Nobody takes you seriously anymore! Get used to it!”
The explosive exchange on Piers Morgan Uncensored has since drawn attention online as fears surrounding a potential global recession, geopolitical instability and economic uncertainty continue to dominate international discussions.
FAQs
What did Professor Jiang predict?
He warned the world could be heading toward a long-lasting “global depression.”
Where did the debate take place?
The discussion happened on Piers Morgan Uncensored.
