TIL Desk/Business/New Delhi/ The trade war between the United States and China will drag the global economy down with the gloomiest growth forecast for 2019 and 2020 since the financial crisis, warned the International Monetary Fund.
Predictions estimate the world economy will grow by only 3 per cent in 2019 picking up to 3.4 per cent by 2020, a considerable slowdown from 2017”s 3.8 per cent growth.
“This subdued growth is a consequence of rising trade barriers, elevated uncertainty surrounding trade and geopolitics, idiosyncratic factors causing macroeconomic strain in several emerging market economies, and structural factors, such as low productivity growth and aging demographics in advanced economies,” IMF chief economist Gita Gopinath, said while presenting the Global Economic Outlook report on Tuesday,
