Fitch: China Trade War Dims Economic Prospects

The outlook for the global economy has deteriorated significantly due to escalation in the U.S.-China trade war, according to Fitch Ratings' Global Economic Outlook (GEO). "There can be few precedents since the 1930s of global growth prospects being affected so significantly by trade policy disruptions," according to Brian Coulton, chief economist at Fitch. Fitch's world gross domestic product (GDP) growth forecasts for both 2019 and 2020 have been lowered by 0.2% since the June GEO in response to the sharp escalation in the U.S.-China trade war over the summer.

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