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profishingrods.com June 25, 2018


S. Korea to maintain 3% growth for 2018-2019: OECD

13 March 2018, 02:29 | Joann Bryant

S. Korea to maintain 3% growth for 2018-2019: OECD

Trade war could derail global economic recovery, warns OECD

It said rebounding business investment was the core reason for the expected acceleration in global growth - with trade rising 5% this year.

An escalating trade war is one of the only things standing in the way of the global economy growing at its fastest pace since 2010 this year and next, according to the influential Organisation for Economic Co-operation and Development (OECD).

It said pre-Christmas tax cuts in the United States, the world's largest economy, would account for much of the upgrade though it warned that protectionist policies were a big risk factor.

As the US prepares to impose tariffs on steel and aluminum imports, a world economic watchdog is warning that such barriers will hurt economic growth globally.

However, it said the global economy was vulnerable to an eruption of trade tensions after the Trump administration imposed import tariffs on steel and aluminium, a move that is expected to prompt retaliation from Europe and others.

On the likelihood of a backlash against Mr Trump's threatened tariffs, he added: "This could obviously threaten the recovery. Certainly we believe this is a significant risk, so we hope that it doesn't materialize because it would be fairly damaging", Pereira said.




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The Paris-based intergovernmental group said on Tuesday that it now anticipates the global economy to grow by 3.9 per cent both this year and next, from a previous forecast of 3.6 per cent for both years.

The eurozone economy will likely see a robust and broad-based expansion, with growth in gross domestic product estimated at 2.3 percent this year and 2.1 percent next year.

Britain, however, was seen missing out on the global upturn, lagging all other G20 countries with growth of only 1.3 per cent this year, although up from a November forecast of 1.2 per cent due to the broader global improvement.

In its interim economic outlook report, the OECD projects 3.9 percent global growth for 2018 and 2019, up from the November forecasts of 3.7 percent and 3.6 percent, respectively.



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