Washington
\nAmericans will begin feeling the effects next year of a marked slowing in world economic growth but should be spared a new recession, the chief economist of the International Monetary Fund said in remarks published on Sunday.<\/p>\n
\u201cWe have long been predicting somewhat lower growth for 2019 than what we are seeing this year,\u201d as the effects of the Trump administration\u2019s fiscal and budgetary measures begin to fade, IMF chief economist Maurice Obstfeld said.<\/p>\n
The slowdown \u201cis going to be sharper probably in 2020 than in 2019, according to the data we are seeing,\u201d Obstfeld said.<\/p>\n
The IMF has already revised downward its 2019 growth prediction for the US, to 2.5 per cent from the 2.8 per cent expected for this year.<\/p>\n
\u201cFor the rest of the world there seems to be some air coming out of the balloon,\u201d he said, pointing to weaker than expected third-quarter economic results in Asia and Europe. \u201cThat will come back and also affect the US.\u201d<\/p>\n
As he has for months, Obstfeld again deplored the trade frictions notably between the United States and China, but also between the US and other trading partners, including Europe that threaten global growth.<\/p>\n
But he ruled out the possibility that the world might see another Great Depression, as it did in the 1930s, when \u201ctrade absolutely collapsed under the pressure of trade restrictions.\u201d \u201cI see the tensions now as being possibly damaging because so much of global investment and production is tied up in trade,\u2019 he said, \u201cbut not liable to the kind of collapse we saw in the 1930s.\u201d<\/p>\n
Obstfeld will be succeeded at the IMF by Harvard professor Gita Gopinath. In a separate interview with CBS, IMF managing director Christine Lagarde again deplored the trade tensions that have brought steadily increasing tariffs.<\/p>\n","protected":false},"excerpt":{"rendered":"
Washington Americans will begin feeling the effects next year of a marked slowing in world economic growth but should be spared a new recession, the chief economist of the International Monetary Fund said in remarks published on Sunday. \u201cWe have long been predicting somewhat lower growth for 2019 than what we are seeing this year,\u201d […]<\/p>\n","protected":false},"author":1,"featured_media":49730,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[87],"tags":[],"class_list":["post-49729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/49729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=49729"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/49729\/revisions"}],"predecessor-version":[{"id":49731,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/49729\/revisions\/49731"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/49730"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=49729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=49729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=49729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}