The global economy is weakening faster than expected as trade wars and financial market volatility further undermine the investment climate, the IMF said on Monday at the start of this year’s World Economic Forum in Davos.
World leaders and business titans have converged on the Swiss ski resort, chastened by the recent economic weakness from Asia to Europe, saying that populism and the policies of international conflict are taking their toll on global economic prospects.
Corporate bosses have been left reeling by the rapid change in sentiment that has followed a ratcheting up of trade tensions over the past year and Monday’s news that China’s official growth rate had slowed to its weakest level since 1990.
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