{"id":54822,"date":"2025-04-08T11:47:00","date_gmt":"2025-04-08T06:17:00","guid":{"rendered":"https:\/\/www.equentis.com\/blog\/?p=54822"},"modified":"2025-04-08T14:37:13","modified_gmt":"2025-04-08T09:07:13","slug":"protection-to-contraction-the-economic-risk-of-tariffs","status":"publish","type":"post","link":"https:\/\/www.equentis.com\/blog\/protection-to-contraction-the-economic-risk-of-tariffs\/","title":{"rendered":"From Protection To Contraction: The Economic Risk Of Tariffs"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\n<p><\/p>\n\n\n\n<p>When Donald Trump floated the idea of a 10% universal import tariff\u2014and as much as 60% on Chinese goods\u2014it wasn\u2019t just a campaign headline. It reopened a long-standing debate: can aggressive protectionism trigger the next <a href=\"https:\/\/www.equentis.com\/blog\/key-global-events-that-can-influence-the-stock-market-this-week-3\/\">global<\/a> recession?<\/p>\n\n\n\n<p>With <a href=\"https:\/\/www.equentis.com\/blog\/10-common-effects-of-inflation-on-the-economy\/\">inflation<\/a> still sticky, monetary policy stretched, and geopolitical tensions high, this is more than a U.S. election-year stunt. It\u2019s a policy shift with global consequences. To unpack whether tariffs will push economies into recession, we must understand the transmission mechanisms\u2014from price levels and investment behavior to currency shocks and global demand.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-large-font-size\"><strong>Tariffs: A Tax with Long Tails<\/strong><\/h3>\n\n\n\n<p>Tariffs are often portrayed as a tool to protect domestic industry. But economically, they are <strong>regressive taxes<\/strong>. They raise the cost of imported goods, which then filters into:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Consumer prices<\/strong> (higher inflation) <\/li>\n\n\n\n<li><strong>Corporate margins<\/strong> (especially for firms relying on global supply chains) <\/li>\n\n\n\n<li><strong>Investment behavior<\/strong> (uncertainty discourages capex) <\/li>\n\n\n\n<li><strong>Exports<\/strong> (due to retaliation) <\/li>\n<\/ul>\n\n\n\n<p class=\"has-small-font-size\">According to the <strong><a href=\"https:\/\/www.equentis.com\/blog\/income-tax-concepts-the-ultimate-guide\/\">Tax<\/a> Foundation<\/strong>, a 10% universal tariff would mean a <strong>$300 billion<\/strong> <strong>tax increase for U.S. consumers<\/strong> over 10 years. That&#8217;s more than the annual GDP of countries like Portugal or New Zealand. <\/p>\n\n\n\n<p class=\"has-small-font-size\">Moreover, as per the Federal Reserve Bank of New York, tariffs during the 2018\u20132019 U.S.-China trade war raised input costs for manufacturers by <strong>8%<\/strong>, contributing to a significant slowdown in factory orders and capital expenditure.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-large-font-size\"><strong>Could It Tip the U.S. Into Recession?<\/strong><\/h2>\n\n\n\n<p class=\"has-medium-font-size\">A U.S. recession isn&#8217;t a theoretical possibility\u2014it\u2019s a statistical probability if tariffs rise drastically in an already fragile macro environment. <\/p>\n\n\n\n<p class=\"has-medium-font-size\">Here\u2019s how the dominoes may fall: <\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Higher Prices = Delayed Rate Cuts<\/strong><strong><br><\/strong> According to Oxford Economics, a 10% import tariff is expected to add <strong>1.8 to 2 percentage<\/strong> <strong>points to<\/strong> <strong>inflation<\/strong>. This may force the Federal Reserve to <strong>hold interest <a href=\"https:\/\/www.equentis.com\/blog\/old-tax-regime-slabs\/\">rates<\/a> above 5%<\/strong> well into 2026, suppressing consumption and borrowing.<br><\/li>\n\n\n\n<li><strong>Demand Shock + Investment Freeze<br><\/strong> With higher prices and interest rates, household spending and corporate investment would decline. As of Q1 2025, actual personal consumption is already slowing, growing at just <strong>1.2% YoY<\/strong>, down from 2.7% a year ago.<br><\/li>\n\n\n\n<li><strong>Trade Retaliation and Global Rebalancing<\/strong><strong><br><\/strong> The EU and China have already hinted at reciprocal tariffs. This reduces demand for U.S. exports, leading to a drop in production, especially in industrial and agri-export hubs like the Midwest.<br><\/li>\n\n\n\n<li><strong>Unemployment Creeps Up<\/strong><strong><br><\/strong> Manufacturing job growth in the U.S. is already stalling\u2014March 2025 added only <strong>5,000 manufacturing jobs<\/strong>, down from a monthly average of 18,000 in 2023. With rising input costs, job cuts may follow.&nbsp;<\/li>\n<\/ol>\n\n\n\n<p class=\"has-medium-font-size\">The U.S. economy is walking a tightrope, and broad tariffs could tip the balance.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-large-font-size\"><strong>The Global Fallout: Who\u2019s Most Vulnerable?<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><strong>1. China<\/strong><\/h3>\n\n\n\n<p>Trump&#8217;s proposed 60% tariff on Chinese goods would further destabilize China\u2019s export sector, which already saw <strong>a 6.5% YoY drop in shipments to the U.S. in 2024<\/strong>. The shock would weaken the yuan, trigger capital flight, and potentially force Beijing to boost fiscal stimulus.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Export-to-GDP Ratio (China):<\/strong> 21% (Statista) <\/li>\n\n\n\n<li><strong>% of Exports to the U.S.:<\/strong> ~17% <\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><strong>2. Germany &amp; the EU<\/strong><\/h3>\n\n\n\n<p>Germany, Europe\u2019s manufacturing engine, exports nearly <strong>50% of its GDP<\/strong>. If global demand weakens, the eurozone may slide into recession again following 2023\u2019s near-zero growth. Sectors like autos and machinery would be hit hard.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Germany\u2019s Exports to the U.S.:<\/strong> ~$157 billion (2024) <\/li>\n\n\n\n<li><strong>Dependency on global demand:<\/strong> Extremely high due to low domestic consumption.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><strong>3. Southeast Asia &amp; Mexico&nbsp;<\/strong><\/h3>\n\n\n\n<p>Vietnam, Taiwan, and Mexico are key parts of global supply chains. For instance, <strong>Vietnam sends 28% of its total exports to the U.S.<\/strong> A slowdown in U.S. demand would ripple into factory closures and currency volatility.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"has-text-align-center\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXfLtRoQD5vI2uzBJjCr5FpMld29Z_VQXrQhwpH5IJ8imdDJQERQyKkifObjnUpbwTRLeEpSx5Phq0h_5BKj8ktHil_8qz_Y3GnmD5HDgddgg3so4qBrlnPvDxPnhszWPaPTjSEL?key=xW0gwMZBErA-x0O62RWunGkN\" width=\"570\" height=\"351\" alt=\"\" title=\"\"><\/p>\n\n\n\n<p class=\"has-text-align-center\">Source: Statista, World Bank, WTO Trade Data&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><strong>4. Commodity Exporters<\/strong><\/h3>\n\n\n\n<p>Tariff-driven demand slowdown in industrial nations would also reduce demand for commodities. Countries like <strong>Brazil (soybeans), Australia (iron ore), and South Africa (metals)<\/strong> may face lower prices and revenue shortfalls.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-large-font-size\"><strong>Is This 2018 All Over Again?<\/strong><\/h2>\n\n\n\n<p>In many ways, no. The macro backdrop today is more fragile. Global interest rates were near zero during the 2018-2019 trade war. Central banks had room to cut. Today, most are already in tightening or neutral mode. It limits monetary flexibility to cushion the blow.<\/p>\n\n\n\n<p>Also, corporate balance sheets are more fragile, especially in China and Europe. Global corporate debt as a percentage of GDP rose <strong>102% in 2024<\/strong>, up from 89% in 2019.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-large-font-size\"><strong>Is India Vulnerable to a Global Recession?<\/strong><\/h2>\n\n\n\n<p><strong>Yes, but with caveats.<\/strong><strong><br><\/strong> India is not immune to a global recession but is <strong>better insulated<\/strong> than many other emerging markets.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXcUd86hVIN8o7kOh5Jral_fi2DqHHKMaYdb_fY5P0LNKIxAFA22t-NuCCcBsybuaDw5KjohzDix5VZbGs6qRXRJyRmZgbo0jV_jxWmL-714d1tCR9Ckzrnj0_oTpeqp4oJWRWiG?key=xW0gwMZBErA-x0O62RWunGkN\" alt=\"\" style=\"width:544px;height:auto\" title=\"\"><\/figure>\n\n\n\n<p class=\"has-medium-font-size\">Here\u2019s why:<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-large-font-size\"><strong>Factors That Shield India<\/strong><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Domestic Demand-Driven Economy<br><\/strong> Unlike export-heavy nations (like Vietnam or Germany), <strong>India\u2019s GDP is driven ~60% by domestic consumption<\/strong>, which acts as a buffer. <\/li>\n\n\n\n<li><strong>Services Resilience<br><\/strong> India&#8217;s IT and business services sector (~8% of GDP) remains globally competitive and essential, even in downturns. Many global firms <strong>outsource more during recessions to cut costs<\/strong>, which benefits India. <\/li>\n\n\n\n<li><strong>Healthy Forex Reserves<br><\/strong> As of March 2025, India has <strong>$640 billion<\/strong> in forex reserves, giving it room to manage currency volatility and imports. <\/li>\n\n\n\n<li><strong>Macroeconomic Management<\/strong><strong><br><\/strong> Inflation, while sticky, has been moderating. The RBI has built credibility in balancing growth and inflation, and fiscal policy is relatively conservative compared to peers.&nbsp;<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading has-large-font-size\"><strong>Risks and Vulnerabilities<\/strong><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Export Exposure to the U.S. &amp; EU<\/strong><strong><br><\/strong> While exports are only ~20% of India\u2019s GDP, the <strong>U.S. and EU account for 30% of India\u2019s total exports<\/strong>. A slowdown there would hit sectors like textiles, engineering goods, and software services.<br><\/li>\n\n\n\n<li><strong>Oil Prices and Capital Flows<\/strong><strong><br><\/strong> In a global slowdown, <strong>oil prices might initially fall<\/strong>, but if geopolitical tensions rise (say, in the Middle East), prices may spike, hurting India\u2019s import bill. Also, <strong>FII outflows<\/strong> often increase during global stress.<br><\/li>\n\n\n\n<li><strong>Unemployment &amp; Informal Sector Stress<\/strong><strong><br><\/strong> A global slowdown can impact job creation, especially in export-oriented SMEs and gig economy sectors. This could widen income inequality.&nbsp;<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading has-large-font-size\"><strong>Economic Consequences of a Global Recession<\/strong><\/h2>\n\n\n\n<p>A full-blown global recession can create <strong>first-order and second-order effects<\/strong>:&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Consequences<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Impact<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Demand Contraction<\/td><td class=\"has-text-align-center\" data-align=\"center\">Reduced sales for exports, lower revenues<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Investment Freeze<\/td><td class=\"has-text-align-center\" data-align=\"center\">Delay in FDI, private sector capex cuts<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Employment Stress<\/td><td class=\"has-text-align-center\" data-align=\"center\">Job losses in trade-exposed and IT sectors<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Fiscal Strain<\/td><td class=\"has-text-align-center\" data-align=\"center\">Government spending may rise to support jobs<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Credit Risks<\/td><td class=\"has-text-align-center\" data-align=\"center\">Defaults may rise in MSME and retail loans<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Currency Volatility<\/td><td class=\"has-text-align-center\" data-align=\"center\">INR depreciation due to capital outflows<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-large-font-size\"><strong>Is There a Silver Lining to a Recession?<\/strong><\/h2>\n\n\n\n<p>Yes. Recessions, while painful, can <strong>reset imbalances<\/strong> and offer <strong>structural opportunities<\/strong>. Here&#8217;s how:<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><strong>1. India as an Alternative to China<\/strong><\/h3>\n\n\n\n<p class=\"has-small-font-size\">Global firms seeking <strong>&#8220;China Plus One&#8221;<\/strong> diversification may <strong>accelerate supply chain moves to India<\/strong>, especially in electronics, pharmaceuticals, and <a href=\"https:\/\/www.equentis.com\/blog\/top-renewable-energy-penny-stocks-in-india\/\">renewable energy<\/a>. For instance:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Apple<\/strong> now assembles 12\u201314% of its iPhones in India (Source: Bloomberg, 2025).\u00a0 <\/li>\n\n\n\n<li>India\u2019s <strong>PLI (Production Linked Incentive)<\/strong> schemes could attract more investment during shifts.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><strong>2. Lower Global Commodity Prices&nbsp;<\/strong><\/h3>\n\n\n\n<p>A global recession typically reduces demand for oil, metals, and agri-products. For India, which imports over 80% of its crude, this means <strong>lower inflation and improved trade balance<\/strong>\u2014freeing up space for fiscal support or rate cuts.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><strong>3. Tech &amp; Talent Outsourcing Boom&nbsp;<\/strong><\/h3>\n\n\n\n<p>As global companies cut costs, <strong>India\u2019s tech services<\/strong> may see <strong>a surge in demand<\/strong>. During the 2008 recession, Indian IT firms like TCS and Infosys grew faster than the global average.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><strong>4. Policy Reforms Under Pressure<\/strong><\/h3>\n\n\n\n<p>Recessions often force governments to act boldly. India may push forward:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Labor market reforms&nbsp;<\/li>\n\n\n\n<li>Infrastructure investment<\/li>\n\n\n\n<li>Trade diversification<\/li>\n\n\n\n<li>Easing compliance for MSMEs&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading has-large-font-size\"><strong>What Can Be Done to Avoid a Recession?<\/strong><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Targeted Tariffs, Not Blanket Measures<\/strong><strong><br><\/strong> Instead of a universal tariff, a nuanced approach focusing on strategic goods (e.g., EVs, semiconductors) could protect domestic interests without stoking a global shock.<br><\/li>\n\n\n\n<li><strong>Supply Chain Diversification<\/strong><strong><br><\/strong> For businesses, shifting procurement to India, Indonesia, or Latin America could help reduce dependence on tariff-prone geographies. The \u201cChina Plus One\u201d strategy is gaining ground.<br><\/li>\n\n\n\n<li><strong>International Trade Coordination<\/strong><strong><br><\/strong> Platforms like the WTO, G7, and APEC must play a bigger role in mediating disputes. The world can&#8217;t afford another full-blown trade war.<br><\/li>\n\n\n\n<li><strong>Fiscal Policy Readiness<\/strong><strong><br><\/strong> Governments must keep fiscal stimulus tools ready\u2014especially in export-reliant nations. Support to vulnerable sectors and households could soften the landing.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Tariffs, Recession, and Risk Multipliers<\/strong><\/h2>\n\n\n\n<p>Trade policy is not made in a vacuum. In 2025, the world is still absorbing the aftershocks of a pandemic, a war in Eastern Europe, and tight monetary policy. Trump\u2019s tariff ambitions may offer political dividends\u2014but economically, they risk pushing the U.S. and the world toward a recession.<\/p>\n\n\n\n<p>If protectionist policies gain traction without complementary buffers\u2014such as diplomacy, diversification, and smart monetary coordination\u2014the odds of a global downturn increase sharply.&nbsp;<\/p>\n\n\n<div class=\"crp-list-container\"><h3 class=\"crp-list-title\">Related Posts<\/h3><ul class=\"crp-list\"><li class=\"crp-list-item crp-list-item-image-left crp-list-item-has-image\"><div class=\"crp-list-item-image\"><a href=\"https:\/\/www.equentis.com\/blog\/coal-india-share-price-all-you-need-to-know\/\"><img decoding=\"async\" style=\"max-width: 50px; height: auto;\" width=\"50\" height=\"50\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2025\/03\/coal-india-share-price-70x70.jpg\" class=\"attachment-50x50 size-50x50\" alt=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2025\/03\/coal-india-share-price-70x70.jpg 70w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2025\/03\/coal-india-share-price-150x150.jpg 150w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2025\/03\/coal-india-share-price-640x651.jpg 640w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2025\/03\/coal-india-share-price-96x96.jpg 96w\" sizes=\"(max-width: 50px) 100vw, 50px\" title=\"\"><\/a><\/div><div class=\"crp-list-item-title\"><a href=\"https:\/\/www.equentis.com\/blog\/coal-india-share-price-all-you-need-to-know\/\">Coal India Share Price: All You Need to Know<\/a><\/div><\/li><li class=\"crp-list-item crp-list-item-image-left crp-list-item-has-image\"><div class=\"crp-list-item-image\"><a href=\"https:\/\/www.equentis.com\/blog\/delta-corp-share-price-analysis-all-you-need-to-know\/\"><img decoding=\"async\" style=\"max-width: 50px; 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height: auto;\" width=\"50\" height=\"50\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2025\/03\/ADAG-Stocks-Surge-Post-Trending-Blog-00-01-70x70.jpg\" class=\"attachment-50x50 size-50x50\" alt=\"Why Did Anil Ambani\u2019s ADAG Stocks Surge Today?\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2025\/03\/ADAG-Stocks-Surge-Post-Trending-Blog-00-01-70x70.jpg 70w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2025\/03\/ADAG-Stocks-Surge-Post-Trending-Blog-00-01-150x150.jpg 150w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2025\/03\/ADAG-Stocks-Surge-Post-Trending-Blog-00-01-640x650.jpg 640w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2025\/03\/ADAG-Stocks-Surge-Post-Trending-Blog-00-01-96x96.jpg 96w\" sizes=\"(max-width: 50px) 100vw, 50px\" title=\"\"><\/a><\/div><div class=\"crp-list-item-title\"><a href=\"https:\/\/www.equentis.com\/blog\/why-did-anil-ambanis-adag-stocks-surge-today\/\">Why Did Anil Ambani\u2019s ADAG Stocks Surge Today?<\/a><\/div><\/li><\/ul><\/div>\n\n\n<p class=\"has-ast-global-color-5-color has-vivid-red-background-color has-text-color has-background has-link-color wp-elements-499db7743cd6e0732dbcf68b165a209c\">Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis &#8211; Research &amp; Ranking. We will not be liable for any losses that may occur. <a href=\"https:\/\/www.equentis.com\/blog\/mukul-agrawal-portfolio-shareholdings-investments-all-you-need-to-know\/\">Investments<\/a> in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by <a href=\"https:\/\/www.equentis.com\/blog\/sebi-registered-investment-advisor-meaning-eligibility\/\">SEBI<\/a>, membership of BASL &amp; the certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tariffs are often portrayed as a tool to protect domestic industry. But economically, they are regressive taxes. They raise the cost of imported goods, which then filters into:<\/p>\n","protected":false},"author":5,"featured_media":54823,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[11,948],"tags":[],"class_list":["post-54822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-stock-market-news"],"_links":{"self":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts\/54822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/comments?post=54822"}],"version-history":[{"count":11,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts\/54822\/revisions"}],"predecessor-version":[{"id":54848,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts\/54822\/revisions\/54848"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/media\/54823"}],"wp:attachment":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/media?parent=54822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/categories?post=54822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/tags?post=54822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}