Commuters cross London Bridge into the City of London financial district on January 27. The IMF says the world economy grew by just 2.9 per cent last year, taking growth uncomfortably close to the widely accepted global recession threshold of approximately 2.5 per cent. Photo: EPA-EFE Commuters cross London Bridge into the City of London financial district on January 27. The IMF says the world economy grew by just 2.9 per cent last year, taking growth uncomfortably close to the widely accepted global recession threshold of approximately 2.5 per cent. Photo: EPA-EFE
Commuters cross London Bridge into the City of London financial district on January 27. The IMF says the world economy grew by just 2.9 per cent last year, taking growth uncomfortably close to the widely accepted global recession threshold of approximately 2.5 per cent. Photo: EPA-EFE
Stephen Roach
Opinion

Opinion

The View by Stephen Roach

The world economy is on the precipice, and don’t look to trade growth to cushion a fall

  • The IMF’s latest assessment of the global outlook is sobering – a shock event will easily tip fragile economies into recession
  • Global trade is sluggish from the impact of protectionism. An expansion in cross-border trade, a reliable growth driver in the past, is unlikely

Commuters cross London Bridge into the City of London financial district on January 27. The IMF says the world economy grew by just 2.9 per cent last year, taking growth uncomfortably close to the widely accepted global recession threshold of approximately 2.5 per cent. Photo: EPA-EFE Commuters cross London Bridge into the City of London financial district on January 27. The IMF says the world economy grew by just 2.9 per cent last year, taking growth uncomfortably close to the widely accepted global recession threshold of approximately 2.5 per cent. Photo: EPA-EFE
Commuters cross London Bridge into the City of London financial district on January 27. The IMF says the world economy grew by just 2.9 per cent last year, taking growth uncomfortably close to the widely accepted global recession threshold of approximately 2.5 per cent. Photo: EPA-EFE
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