Economy: Global growth slowing as risks persist (Bild: OECD)
The Outlook identifies the Chinese and European slowdown, as well as the weakening of global trade growth, as the principal factors weighing on the world economy, writes the OECD.
It underlines that further trade restrictions and policy uncertainty could bring additional adverse effects on global growth. While policy stimulus is expected to help offset weak trade developments in China, risks remain of a sharper slowdown that would hit global growth and trade prospects.“The global economy is facing increasingly serious headwinds,” said OECD Chief Economist Laurence Boone.
“A sharper slowdown in any of the major regions could derail activity worldwide, especially if it spills over to financial markets. Governments should intensify multilateral dialogue to limit risks and coordinate policy actions to avoid a further downturn,” Ms Boone said..
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