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Traders work on the floor of the New York Stock Exchange, on July 27, 2022.
PHOTO: AFP
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SINGAPORE - The International Monetary Fund (IMF) recently cut its global economic growth outlook again, warning of more downside ahead. Pessimism is clearly running high in much of the world.
Indeed, the probability of a deeper economic contraction has risen. The sharp cut in Russian gas exports to Europe, a hawkish Federal Reserve and China's property crisis have increased the odds.
