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World economy braces for global trade slowdown in 2019

28 14 21

THE world is heading for a global trade slowdown in 2019 as financial markets grow increasingly worried about the world economy, fearing things could turn ugly fast if a meaningful deal isn’t reached in the US-China trade dispute.

The World Trade Organisation’s (WTO) chief economist, Robert Koopman, told Bloomberg all indicators point to a lowdown.

“When you look at those leading indicators, they continue to weaken. It’s almost like a death from a thousand cuts,” Koopman said in an interview.

“There’s not any one big change in those leading indicators but, boy, they are starting to add up.”

SEE ALSO: Trade: G20 statements show US, China are on different pages

These indicators include purchasing manager indices from around the world, and air and sea freight numbers; all of which point to slowing global trade momentum.

“If we have an expectation that it is going to move in any direction it’s going to be down,” Koopman said of the 2019 projections.

What a difference a year makes. At the start of 2018, optimism about a robust global economic........

© Asian Correspondent