"2020 would be more difficult economically" | Economy

The YEAR 2020 should be more difficult for global and African trade.

Several world economies are expected to record a negative growth rate of gross domestic product (GDP) in 2020.

The negative growth should be explained by the slowing growth of the US economy during the same period.

Slower growth in the US economy is expected to have an adverse effect on the economies of countries that trade directly with the United States.

Herman Warren, director of Africa Corporate Network, said this during a presentation on world trade on Wednesday in Accra, Baker McKenzie's trade and international trade practice and Kimathi & Partners' African tour.

He told DGN Online in an interview on the sidelines of the Roadshow that "the US economy is too important to be neglected".

According to him, "this will result in a slow global GDP".

He added that "things will be more difficult in some places".

Already, the global growth forecasts for 2019 and 2020 have already been revised downwards in the latest World Economic Outlook (WEO), in part because of the negative effects of the tariff increases promulgated in the United States and Canada. China in 2018.

It is understood that the new downward revision since October partly reflects a postponement of the slowdown recorded in the second half of 2018, including in Germany following the introduction of new standards on fuel emissions and in Italy, where Sovereign and financial risks concerns on domestic demand – but also the weakening of the sentiment of the financial markets as well as the contraction of Turkey should be greater than expected.