WTO warns global trade is suffering ‘a death from a thousand cuts’ as 2019 fears increase
- World Trade Organisation’s chief economist Robert Koopman follows up comments by US Federal Reserve chairman Jerome Powell
- Impact of the trade war between China and the United States and possible slowdown in the world economy next year is concerning financial markets
One of the key engines of the world economy – global trade – looks increasingly precarious as leading indicators point to a meaningful slowdown next year, according to the World Trade Organisation’s chief economist.
“When you look at those leading indicators, they continue to weaken. It’s almost like a death from a thousand cuts,” Robert Koopman said.
“There’s not any one big change in those leading indicators but, boy, they are starting to add up.”
Financial markets have been increasingly concerned about a possible slowdown in the world economy next year and the impact of the trade war between China and the United States.
US Federal Reserve chairman Jerome Powell on Wednesday pointed to investor and business fears over trade tensions and global growth going into 2019.
