Earlier this year, the World Trade Organisation (WTO) cut its forecast for global trade growth from 4.4 per cent to 3.9 per cent, and predicted growth to slow even further in 2019. It was joined by a raft of economic organisations which also trimmed their forecasts.
Rising global trade tension, and the United States-China trade war in particular, was the predominant reason for the downgrades - a tangible example of how recent policy shifts are having a very real impact on the world economy.
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