Ten-year economic low: the world is going down with us

Business

Ten-year economic low: the world is going down with us

The fallout from the US-China trade war will be detrimental, says the World Bank

Anna Isaac

The World Bank has forecast the weakest growth for global trade since the 2009 financial crisis, joining a host of leading organisations in condemning the economic fallout from the US-China trade war.

The Washington-based lender has issued a grim warning about the health of the world economy, downgrading its predictions for the global expansion amid threats from the US-China conflict, high government debt and sharp slowdowns in major economies.

As a result, the institution downgraded its forecast for global growth in 2019 by 0.3% points, to 2.6%...

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