OECD cuts global growth forecast as US-China tensions rise 0 SHARES Share it! Share TweetBy Agence France-PresseThe OECD on Tuesday cut its forecast for the world economy, urging governments to resolve their trade disputes as the latest flare-up in the US-China trade war threatens to crimp global growth. “Governments must act urgently to reinvigorate growth that benefits all,” the Organisation for Economic Co-operation and Development said as it pared back its forecast for global growth to 3.2 percent this year from 3.3 percent earlier. Nevertheless, the projections did “incorporate” the increased uncertainty generated by the trade tensions, the source said. While the OECD pared back its global growth forecast for the current year, it predicted a pick-up in activity to 3.4 percent in 2020.

Source: Manila Bulletin May 22, 2019 05:24 UTC