The International Monetary Fund lowered its forecasts for global economic growth this year and next, citing rising trade protectionism and instability in emerging markets.
The IMF said the global economy will expand 3.7% this year, down from its April estimate of 3.9%.
There is a lot of phony preciseness in these specific percentage forecasts by the IMF but the general negative pressures on growth cited by the IMF as a result of rising trade protectionism is very real.
-RW
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