The World Bank published its Global Economic Prospects report for 2020 yesterday and almost everyone is growing—except Argentina, Iran, and much poorer countries
Share to linkedin... [+]The World Bank published its Global Economic Prospects report for 2020 on Wednesday and almost everyone is growing; everyone that is except Argentina, Iran and much poorer countries like Haiti.
One takeaway from the annual report is that everyone is growing and there is no recession in sight for at least the next two years, despite the constant hemming and hawing about it in some segments of the financial media. Growth has decelerated more than previously expected due to cooling domestic demand and heightened trade tensions. Trade policy uncertainty and higher tariffs on weighed on corporate investor sentiment for most of 2019. Industrial production growth has reached multiyear lows and trade flows have weakened substantially, theThe next three years of Brazil president Jair Bolsonaro should be good, economically speaking at least. His country’s GDP growth rate will actually beat the U.S.
Key risks to India’s outlook include a sharper-than-expected slowdown in their trading partners, a re-escalation of regional geopolitical tensions with Pakistan, and a setback in fixing state banks that lent too much money to high life, big spending executives like formerMeanwhile, the U.S. is slowing, but growing.
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