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World Bank warns of repercussions of trade war DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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World Bank warns of repercussions of trade war

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World Bank warns of repercussions of trade war Empty World Bank warns of repercussions of trade war

Post by claud39 on Wed Jan 09, 2019 6:58 am


World Bank warns of repercussions of trade war


World Bank warns of repercussions of trade war 12255

Economy News

The World Bank warned on Tuesday that the US-China trade war, the world's two largest economic powers, has already caused many collateral damage and threatens its dangers by slowing world economic growth.
Global economic growth will slow this year to 2.9 percent from 3 percent in the previous quarterly forecast in June and 2.8 percent in 2020, according to the International Finance Corporation's semi-annual report.
The World Bank forecast also showed that the US economy was adversely affected by its trade war with China, which will be reflected in a slowdown in growth. This year's growth rate will be 2.5% compared to 2.6% in the previous quarterly forecast in June, To 1.7% in 2020 compared to 2% in the previous quarterly forecasts.
The report is pessimistic compared with its June counterpart when the World Bank predicted the world economy would grow steadily and called for urgent action and "necessary".
"Trade and investment are on the decline globally, trade tensions remain high, and many large emerging markets are under heavy financial pressure last year," according to an excerpt from the report published by the World Bank in Arabic on its website. .
The Bank considered that against this background of considerable challenges, growth in emerging markets and developing countries is expected to remain constant in 2019.
He noted that the pace of recovery experienced by countries that rely heavily on exports of primary commodities will decline further than desired, "and is expected to decline in the growth rate in many other countries.
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