UN Cautions Against Trade Tensions Bringing Down Global Economic Growth in 2020 - Forex News by FX Leaders
UN Cautions Against Trade Tensions Bringing Down Global Economic Growth in 2020

UN Cautions Against Trade Tensions Bringing Down Global Economic Growth in 2020

Posted Friday, January 17, 2020 by
Arslan Butt • 1 min read

In its flagship report ahead of the upcoming Davos Summit, the UN has cautioned that continued trade tensions between the US and China or any rise in geopolitical tensions could stall economic recovery globally this year. There is a very real possibility of a sharp economic slowdown in 2020 which could possibly derail ongoing efforts to tackle issues like climate change or poverty.

The tariffs war between the US and China through 2019 was responsible for bringing economic growth down to the weakest levels in around 10 years. Meanwhile, an improvement in US-China trade relations could see global GDP growing by around 2.5% this year after having seen a 2.3% growth last year.

However, any flare-up in trade tensions or geopolitical risks could derail recovery and weaken economic growth down to as low as 1.8% in 2020. According to UN secretary general, António Guterres, “These risks could inflict severe and long-lasting damage on development prospects. They also threaten to encourage a further rise in inward-looking policies, at a point when global cooperation is paramount.”

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
Related Articles
Comments

Leave a Reply

avatar
  Subscribe  
Notify of