UN forecasts lowest global GDP growth since financial crisis
- 5 years ago
대외악재 속 '사면초가' 韓경제…유엔 "세계성장률 10년래 최저"
The UN has warned that the world economy could be hit by recession in 2020,... after growing by what many experts predict will be slowest rate this year since the global financial crisis.
The recession if it comes,... is likely to hit both advanced and developing economies.
Hong Yoo with the details.
The United Nations Conference on Trade and Development projects global economic growth this year to come in at 2-point-3 percent.
This would the lowest since 2009, when due to the global financial crisis, world economic growth fell to minus 1-point-7 percent.
Not only are developed economies such as the U.S. and the EU seeing sluggish growth but so is China, the country long called the factory of the world.
China is doing all it can to keep its economic growth at 6 percent, but it's hindered by its protracted trade war with the U.S.
China saw growth of 6-point-4 percent in the first quarter of this year but that went down to 6-point-2 percent in the second quarter.
The U.S., meanwhile, has seen exports fall this year by 1-point-7 percent.
The growth it's seen since 2017, the UN says, is fading, and the investment boom is weakening.
In the EU, the troubles are in Germany and the UK.
Germany's second quarter GDP growth decreased by 0-point-1 percent on-year and there is a possibility of a yet another decrease in the third quarter, which would technically mean a recession.
The UK faces the possibility of a no-deal Brexit.
Meanwhile, one of the countries hit hardest by the U.S.-China trade war is South Korea, which depends highly on exports and especially intermediate goods shipped to China.
Fitch Ratings, one of the world's main credit rating agencies, says that trade war... plus trade uncertainties with Japan could knock Korea's economic growth down by half a percentage point.
Hong Yoo, Arirang News.
The UN has warned that the world economy could be hit by recession in 2020,... after growing by what many experts predict will be slowest rate this year since the global financial crisis.
The recession if it comes,... is likely to hit both advanced and developing economies.
Hong Yoo with the details.
The United Nations Conference on Trade and Development projects global economic growth this year to come in at 2-point-3 percent.
This would the lowest since 2009, when due to the global financial crisis, world economic growth fell to minus 1-point-7 percent.
Not only are developed economies such as the U.S. and the EU seeing sluggish growth but so is China, the country long called the factory of the world.
China is doing all it can to keep its economic growth at 6 percent, but it's hindered by its protracted trade war with the U.S.
China saw growth of 6-point-4 percent in the first quarter of this year but that went down to 6-point-2 percent in the second quarter.
The U.S., meanwhile, has seen exports fall this year by 1-point-7 percent.
The growth it's seen since 2017, the UN says, is fading, and the investment boom is weakening.
In the EU, the troubles are in Germany and the UK.
Germany's second quarter GDP growth decreased by 0-point-1 percent on-year and there is a possibility of a yet another decrease in the third quarter, which would technically mean a recession.
The UK faces the possibility of a no-deal Brexit.
Meanwhile, one of the countries hit hardest by the U.S.-China trade war is South Korea, which depends highly on exports and especially intermediate goods shipped to China.
Fitch Ratings, one of the world's main credit rating agencies, says that trade war... plus trade uncertainties with Japan could knock Korea's economic growth down by half a percentage point.
Hong Yoo, Arirang News.