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Global Trade Plummets

The two-year trade war between the US and China reshaped global commerce. Many industries felt the burn while others still delivered modest gains and were largely unaffected. Growth in global trade fell to a mere 1% last year – down from 4% in 2018 and 6% in 2017. It was one of the worst results over the past 40 years, and according to the International Monetary Fund, the worst ever outside a period of recession. “Global growth and investment would have likely been higher in the absence of trade uncertainty” from the US-China fight, noted the Institute of International Finance Deputy Chief Economist Sergi Lanau.

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