The Organization for Economic Cooperation and Development has revised its economic growth forecasts for 2019 and 2020 downward in response to the ongoing effects of various international tensions and political turmoils. The move reflects how the uncertainty surrounding crucial global events such as Brexit and the US-China “trade war” is dampening global growth. It also highlights other vulnerabilities in the global economy, such as the dangers surrounding Italian debt and the risk of a slowdown in the Chinese economy. The Eurozone forecasts in particular saw significant cuts, but the forecasts for a few countries, such as Argentina and South Africa, were revised slightly upwards.
