The International Monetary Fund is warning that ongoing sluggish global economic growth could bolster the emerging anti-trade backlash that has become a feature of political discourse in both the U.S. and Europe.
As indicated by writer Landon Thomas, in its October World Economic Report, the Fund forecasts three point one percent global economic growth this year, well below historic norms. The outlook for growth in developed economies like the U.S. and Japan is just one point six percent compared to two point one percent growth last year.
The Fund recently slashed its outlook for twenty sixteen U.S. economic growth from two point two percent, which was the standing forecast in July, to just one point six percent. Emerging economies like India and Brazil are collectively expanded to expand by four point one percent. Global trade volumes are no longer growing as they once had.
The volume of world trade has expanded by around three percent a year since twenty twelve, half the growth experienced over the last thirty years. Still, many around the world blame trade for their national economic issues.
