Trade tensions threaten global economic growth, G20 cautions
Finance ministers and central bankers say risks to the world economy have increased.
Trade tensions threaten global growth as the engines of leading economies fall out of sync, the world’s top finance chiefs warned on Sunday.
Global growth remains robust and many emerging-market countries are better prepared to face crises, but risks to the world economy have increased, finance ministers and central bankers from the Group of 20 nations said in a statement published at the end of their two-day summit in Buenos Aires.
The main risks are “rising financial vulnerabilities, heightened trade and geopolitical tensions, global imbalances, inequality and structurally weak growth,” the statement read.
Emerging markets also face threats including market volatility and capital outflows, according to the G20.
The group’s March statement did not mention trade tensions.