WB: Downward trend haunts global economy

Added On January 10, 2019

The World Bank estimates the global economic growth will slow down to 2.9 percent this year, unable to put brake on the downward trend.
The World Bank released the latest Global Economic Prospects report on Tuesday.
The international organization said recovery in emerging markets and developing economies has lost momentum, and the growth will be at 4.2 percent in 2019, 0.5 percentage points lower than previously projected. 
As major central banks continue to withdraw monetary policy accommodation, growth in advanced economies will slow down from 2.2 percent in 2018 to 2 percent this year.
The report also warned that intensifying trade tensions could result in weaker global growth and disrupt globally-interconnected value chains.  
China's economic growth is expected to slow to 6.2 percent in 2019, down from 6.5 percent in 2018 as domestic and external rebalancing continue. 
The report called on policymakers to prepare for possible bouts of financial market stress, boost human capital, remove investment barriers and promote trade integration within a rules-based multilateral system.