techkenyot.com
techkenyot.com January 18, 2019


Potential trade war threatens global economic growth, OECD warns

13 March 2018, 02:17 | Hattie Nash

Potential trade war threatens global economic growth, OECD warns

Potential trade war threatens global economic growth, OECD warns

This is up from an earlier projection of 1.2%, but is the weakest in the G20.

While broadly more optimistic than only a few months ago, the Organisation for Economic Cooperation and Development warned a trade war could threaten the outlook, and forecast that United Kingdom growth would lag all G20 countries due to Brexit uncertainties.

In its quarterly report, the Paris-based research body said it expects growth to ease off in some of those economies this year, but not by as.

The OECD forecast the US economy would grow 2.9 percent this year and 2.8 percent in 2019, with tax cuts adding 0.5-0.75 percentage points to the outlook in both years. That was higher from a November forecast of 1.2 percent due to the broader global improvement.

Our diplomats in Pakistan facing tremendous harassment
On the other, Pakistani diplomats in Delhi allege that they and their families are being followed by Indian security personnel. They said that all decisions about missions are taken on the basis of reciprocity.

In its latest snapshot on global performance the Organisation for Economic Cooperation and Development (OECD) raised its growth forecast for both 2018 and 2019 to 3.9% - the highest since 2011 - from a previous estimate of 3.6%.

"Growth is steady or improving in most G20 countries and the expansion is continuing", said OECD acting chief Economist Alvaro Pereira, "[But] an escalation of trade tensions would be damaging for growth and jobs".

"We should also make full use of the help available from other markets, of other investors, of other scientists, of other technologies to complement our own", he said.

The OECD's latest economic outlook showed all but one G20 nation - Russian Federation - was set to grow at a faster pace this year than predicted last November.

Girl afraid to wear Star Wars t-shirt gets tweet from Mark Hamill
A range of events will be held from Thursday to Monday, as part of the St Patrick's Festival. He conquered the Wild Atlantic Way, but now he's coming for the Big Shmoke. .

"Safeguarding the rules-based global trading system will help to support growth and jobs", it said.

But its brighter outlook came with a major caveat in the wake of the USA decision to slap import tariffs on steel and aluminum and the threat of retaliation by China, the European Union and others.

"I think it is very important to avoid escalation and to initiate a strengthening in the global dialogue to solve not only the problem for steel but to avoid bigger repercussions in terms of trade".

The OECD projects that the global economy will grow by 3.9% in both 2018 and 2019, with private investment and trade picking up on the back of strong business and household confidence.

Cholesterol drug significantly reduced patients' risk of death in trial
The findings are welcome news for the drug's manufacturers, as the high list price has proven unpalatable to insurance companies.

Mr Pereira said a global trade war would be harmful for the global economy.



Other News

Trending Now

North Korea seen 'cautious' in announcing stance over upcoming summits: Seoul
The story so far: President Donald Trump accepted North Korea's invitation for direct talks with Kim Jong Un , to be held by May. North Korean media have reported the South Korean visit, but no details of the talks.

Nintendo Switch Version 5.0 Brings New User Icons and More
If your Nintendo Switch is connected to the internet, your console will download the update automatically. Firmware update 5.0.0 for Nintendo Switch is out now and introduces a number of changes.

Brandon Jennings, Bucks Reportedly Agree to 10-Day Contract
Just always wanted to bounce back from that. "Just putting on that jersey was a blessing and I was just very grateful". He started the season playing in China before joining the Bucks' G League affiliate, the Wisconsin Herd, in February.

US Defence Secretary Mattis Arrives In Kabul On Unannounced Visit
Mattis said he had seen some positive indications from Islamabad, noting some Pakistani military operations along the border. Approximately 14,000 American forces are now in Afghanistan, up from a low of about 8,500 when Obama left office.

Business Report: What happens if Trump does steel tariffs
On Friday, he tweeted that " trade wars are good and easy to win" - one of his most ridiculous tweets ever, which is saying a lot. President Donald Trump is prepared to do in the name of so-called "winning". "Millions of people addicted and dying", he said .

Frida Kahlo's Family Is Not Thrilled with Her Barbie Doll
A lawyer for Romeo added that Mattel did not have the rights to use Kahlo's image, according to the news agency. Hayek's not the only one questioning the doll, with Kahlo's own family calling for a redesign.

Hamas condemns Gaza attack targeting Palestinian Prime Minister Hamdallah
Mr Hamdallah was unharmed, but there are reports of some injuries. "The prime minister was unhurt in the attack", Wafa said. He said that despite the attack he remained committed to Palestinian unity and would continue to come to Gaza.

HBO calls on David E. Kelley and Nicole Kidman for 'The Undoing'
For HBO, The Undoing joins a roster of drama originals that also includes Game of Thrones, Westworld, The New Pope , J.J. Nicole Kidman ( Big Little Lies ) is set to star in the upcoming limited HBO series The Undoing , according to Deadline .

OPEC Price Fight Weighs on Oil
Analysts said a liquidation of long positions had contributed to the dips. Futures in NY were little changed after surging 3.2 percent Friday.

Aditya Narayan arrested by Versova Police for rash driving, injuring two
The auto driver has severe head injuries and is in ICU while the lady fractured her leg and sustained few injuries on her back. The auto driver was identified as Rajkumar Baburao Palekar, 64. "Narayan is also admitted to hospital for minor injuries".