What threats to the global economy in 2020?

There are of course still risks and uncertainties related to the geopolitical situation (for example the Middle East situation ), to politics (elections in the United States, political situation in Germany, etc.) and to trade (development of the trade dispute between the United States on the one hand, and China and Europe on the other). But in this Flash we will focus on economic risks; the most serious threats seem to be: China's situation; The situation of small (High Yield) companies in the United States; The situation of large emerging countries (Argentina, Brazil, Turkey, South Africa, India); The effects of new regulations related to the climate problem on certain business sectors (automotive, etc.); An end to the rise in participation rates, as this rise is enabling continued growth in OECD countries. Other risks , which would be severe if they materialised ( return of inflation and rising interest rates) , seem unlikely.