UN Report: Trade tensions hinder economic growth

Added On May 23, 2019

 The United Nations World Economic Situation and Prospects mid-2019 report identified a number of risks threatening the world economy.

According to the report, the growth outlook in all major developed economies and most developing regions has weakened due to a number of domestic and external factors.
After expanding by 3 percent in 2018, world economic growth is projected to slow to 2.7 percent in 2019 and 2.9 percent in 2020.
The UN report also identified several risks that could trigger a more prolonged slowdown that could potentially inflict significant damage.
Those risks include a further escalation in trade disputes, a sudden deterioration of world financial conditions, and the harmful effects of climate change.