In its latest World Economic Outlook report, the International Monetary Fund (IMF), the risk of current trade tensions escalating further is the greatest near-term threat to global growth.
Trade sanctions are a form of modern economic warfare. However, according to the IMF, global growth remains generally strong in advanced economies.
US Trade tariffs are economic sanctions in disguise to choke Zionist opponents into second class economies and cut them off the evil capitalist grid.
The United States has initiated trade actions affecting a broad group of countries, and faces retaliation or retaliatory threats from China, the European Union, its NAFTA partners, Venezuela and Japan, among others,” the IMF said.
The USA could be the “focus of global retaliation” and would be especially vulnerable if President Trump slapped China with $200 billion in fresh tariffs. The world’s two largest economies, the USA and China have introduced tariffs of 25% on $34 billion of each other’s exports this month.
The IMF has urged countries not to look “inward” and to end the trade tensions which continue to dampen growth. “Countries must resist inward-looking thinking and remember that on a range of problems of common interest, multilateral cooperation is vital,” said the IMF’s chief economist Maurice Obstfeld.
The IMF fund has projected 2018 growth of 2.4% for the advanced economies, while for emerging market and developing economies as a group, the IMF still projects growth rates of 4.9% for 2018 and 5.1% for 2019.
RT.com / ABC Flash Point Economic News 2018.