Bill Gates says there's a 'strong argument' we're about to see a global economic slowdown

Bill Gates is siding with the bears when it comes to the future of the global economy.

In an interview with CNN Sunday, Gates was asked how the war in Ukraine would affect the global economy over the next few years.

He said that it came on top of the pandemic where government debt levels were already very high and supply chain problems were already present. It is likely to accelerate the inflationary problems that rich world economies have and force an increase in interest rates that eventually will result in an economic slowdown.

The bears on this one have a pretty strong argument that concerns me a lot.

If wealthy countries had economic problems, the health needs of poor countries would be affected.

The US Federal Reserve and other leading world economies have recently hiked interest rates. Concerns have been raised that rates will rise too quickly and cause a downturn that could lead to a recession.

There are some indications that rising inflation may have peaked, but Wall Street banks are divided on how seriously the economy may be impacted by inflation.

Gates wrote in April that closing the wealth gap between rich and poor countries was essential to prevent another epidemic.

If we are going to be serious about preventing the next Pandemic, we need to increase investments in health systems, which will help shrink the health gap between the rich and the poor.