Paris-Based Think Tank OECD Cuts Global Growth Forecast

INSUBCONTINENT EXCLUSIVE:
governments to resolve their trade disputes as the latest flare-up in the China-US trade war threatens to crimp global growth."Governments
must act urgently to reinvigorate growth that benefits all," the OECD said as it pared back its forecast for global growth to 3.2 per cent
this year from 3.3 per cent earlier."Resolve trade disputes through increased international cooperation while fixing the international
rules-based system," the OECD said."Invest in infrastructure, digital transformation and skills to meet tomorrow's challenges
In the euro area, combine structural with fiscal policies to stimulate activity."The OECD's updated forecasts did not take directly into
account the latest flare-up in the long-running trade war between Washington and Beijing, "insofar that there is still a great deal of
uncertainty about the length of time (tariffs) will remain in place and the future evolution of the trade relationship between the two
countries", an OECD source told news agency AFP.Nevertheless, the projections did "incorporate" the increased uncertainty generated by the
trade tensions, the source said.As both Washington and Beijing slap trade tariffs on more and more of each other's goods, President Donald
Trump has barred US companies from engaging in telecommunications trade with foreign companies said to threaten American national
security.US internet giant Google, whose Android mobile operating system powers most of the world's smartphones, then announced that it
was beginning to cut ties with China's Huawei, which Washington considers a national security threat.While the OECD pared back its global
growth forecast for the current year, it predicted a pick-up in activity to 3.4 per cent next year.It notched up its forecast for US growth
this year by 0.2 percentage point to 2.8 per cent, but predicted a slowdown to 2.3 per cent next year.Chinese growth was projected to slow
to 6.2 per cent this year and 6.0 per cent next year.The outlook for the euro area growth was unchanged at 1.2 per cent this year.Election
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