Trade tensions threaten to slow global growthPARIS - The OECD on Tuesday cut its forecast for the world economy, urging governments to resolve their trade disputes as the latest flare-up in the China-US 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. "Resolve trade disputes through increased international cooperation while fixing the international rules-based system," the OECD said. 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 next year.

Source: Bangkok Post May 21, 2019 10:07 UTC