Oct 15, 2019 – The IMF just released its October World Economic Outlook warning that the world faces a "synchronized slowdown" and reduced its outlook for global growth to the slowest pace since the 2008 financial crisis. The IMF also expects the United States to continue slowing further.
In this video, Yahoo Finance gives a breakdown of the recent report, including the impact from the US-China trade war, and what the IMF expects for the global economy for the remainder of 2019 into 2020.
From Yahoo Finance:
"Among the large countries, the IMF projects sub-1% GDP growth for 2019 in Germany, Italy, Switzerland, Turkey, Japan, Mexico, Brazil, and Saudi Arabia...
Although trade is in focus amid the global slowdown, the IMF says fiscal policy should be mindful of the longer-term challenges ahead. One problem that the IMF identified: automation and its distortive effects on labor markets.
IMF researchers led by John Bluedorn found that 'lagging regions' in advanced economies are at-risk of having major industries upended by automation, leaving them without jobs and no new industries to turn to without needing new job training. Bluedorn’s team extended this question and asked if the automation effects were larger than the trade shock of China’s rise as a major cog in the global supply chain."
