US-China trade war to hurt global growth: EIU
According to the Economist Intelligence Unit (EIU) report, while global trade will be overshadowed by the ongoing dispute between China and the US, appetite for new free-trade deals will continue in the rest of the world including those involving India. "Our assumption that protectionism will rise, but that a trade war will be averted, means that global trade growth will continue to slow in 2019-22, to an average of 3.5 per cent a year," the EIU report said
As per the World Trade Organisation (WTO), the global trade growth recorded in 2017 stood at 4.7 per cent and is estimated at about 4.4 per cent for 2018. Image source: Reuters