First up: the manufacturing sector, which is “basically contracting around the world,” he said.
In his new memoir What it Takes, the private-equity titan advises readers that worrying “is playful, engaging work that requires you never switch it off.” This approach helped him to protect Blackstone Group Inc. BX, -3.34% investors from the worst of the subprime real estate crisis, he told MarketWatch in an interview Monday afternoon.
The U.S. hasn’t been immune either, with a closely followed reading of manufacturing activity from the Institute for Supply Management showing that sector in contraction in August . His fourth concern is that the global economy has shifted from synchronized growth as late as 2018 to a one in which expansion is receding as if there was no end in sight. “Most of the major countries around the world have slowing economies,” he pointed out.
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