Rich economies are expected to grow at roughly the same lacklustre pace as they did in 2019—the euro zone’s, almost exactly the same
GLOBAL GROWTH in 2019 was the slowest since the financial crisis of 2008-09. The world’s GDP rose by roughly 2.2%. This year will be little better, according to the latest estimates from the Economist Intelligence Unit , a sister company of: 1.3%, against 1.2% last year. The EIU sees a fairly sharp slowdown in America, from 2.3% to 1.7%, as trade tensions continue to depress trade and investment. A continuation of the global slowdown in manufacturing will also drag down growth worldwide.
Governments have plenty of scope to boost output by pursuing sensible policies and abandoning foolish ones. They may not help. The biggest threat to growth continues to be the Sino-American trade war . In December President Donald Trump announced a “phase one” deal with China, which would see America roll back some tariffs in exchange for Chinese concessions including higher purchases of agricultural goods. But some caution is in order, even if the deal is signed this month as planned.
France Dernières Nouvelles, France Actualités
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