
The US-China trade war will hobble global growth, the International Monetary Fund warned Tuesday, cutting its forecast for this year and next and predicting that "everyone is going to suffer" from a clash between the world's two biggest economies.
The global economy will now grow 3.7 per cent in 2018 and 2019, 0.2 percentage points lower than the fund's July forecast, and at the same pace of 2017.
IMF Managing Director Christine Lagarde confirmed that Pakistan had requested the loans after meeting with Finance Minister Asad Umar in Indonesia, without saying how much the Pakistanis had asked for.
Jakarta expects the economy to grow by 5.2 per cent this year and 5.3 per cent next year, given external pressures.
The IMF said the balance of risks was now tilted to the downside, with a higher likelihood that financial conditions will tighten further as interest rates normalize, hurting emerging markets further at a time when USA -led demand growth will start to slow as some tax cuts expire.
It cautioned, "Turkey has a currency that is about 40 percent cheap to its long-term average, and the International Monetary Fund assumes the CA deficit will shrink from 5.7 percent of GDP in 2018 to 1.4 percent of GDP in 2019".
The possible failure of Brexit negotiations also dampened the eurozone's growth outlook.
Global trade tensions would also have a bearing on the eurozone's 2018 growth forecast, which was cut to 2 percent from 2.2 percent previously.
Global growth is expected to remain steady at 3.7 per cent in 2020, as the decline in advanced economy growth with the unwinding of the U.S. fiscal stimulus and the fading of the favorable spillovers from United States demand to trading partners is offset by a pickup in emerging market and developing economy growth.
China accuses former Interpol chief of graft
Meng's leadership also provided a mechanism to legitimise China's global efforts to silence critics among its diaspora. Meng Hongwei , 64, vanished from public view after taking a flight from France to Beijing in late September.
Learn More About Mental Health Awareness in Teens with NAMI Sarasota
Gaga wrote in the Guardian: "The time has come for us all, collectively, to tackle the causes and symptoms of mental illness". They were really proud of being a young parent.
Putin Congratulates Nurmagomedov After McGregor Win, Issues Veiled Warning
The NSAC made the decision to withhold Nurmagomedov's purse after the post-fight antics, while McGregor was paid in full. Nurmagomedov wrote: "I would like to address @ufc". "We have defended our honor and this is the most important thing".
It sees the unemployment rate dropping to 3.9 percent in 2018 and to 3.5 percent in 2019.
The IMF said higher trade barriers could disrupt global supply chains, slow the spread of technology and ultimately lower global productivity and welfare.
The fund urged governments to focus on policies that can share the benefits of growth more widely, helping counter the growing mistrust of institutions, and to avoid "protectionist reactions to structural change".
It also said renewed impetus to reform labour and land markets, along with further improvements to the business climate, are crucial.
The revised estimates includes a worsening outlook for developing economies this year and next compared to the July report, as well as downgrades for the United States and China in 2019.
Meanwhile, Dr Obstfeld is concerned that several economies have adopted policies that are "unsustainable over the longer term" to boost growth.
Trump has repeatedly touted Wall Street records as proof of the success of his economic programme including his confrontational trade strategy, and has frequently criticised the Fed for gradually raising interest rates, which could press the brakes on equity markets.
Washington has also imposed tariffs on steel and aluminium, citing national security concerns, and has also warned it could impose a 25% levy on imported cars and vehicle parts.
Beachside town battered by Hurricane Michael
An official with an emergency management agency said Tropical Storm Michael is responsible for a child's death in Georgia. In Chattahoochee, Fla., a hospital with a section for the criminally insane was cut off by land and without phone service.
INDvsWI: Kohli back, Pant picked up for first 2 ODIs
In their place are Mohammed Shami , Khaleel Ahmed and Shardul Thakur form India's bowling department. Ravindra Jadeja is also expected to make it after his lion-hearted show as Axar Patel's replacement.
Cyclone Titli: Eastern India battered by deadly storm
The students' union poll across the state scheduled for October 11 has been cancelled, Chief Secretary Aditya Prasad Padhi said. Maritime ports of: Chittagong, Cox's Bazar, Mongla, and Payra have been advised to keep local warning signal no 4 hoisted.
Africa's youngest billionaire kidnapped outside luxury hotel
Dewji was abducted by two people who were foreigners at Oyster Bay in Dar es Salaam , while on his way to Colosseum Gym. Dar es Salaam regional commissioner Paul Makonda cautioned the public against speculation.
'That was something': Trump left speechless after Kanye visits White House
A number of Manchester United fans have criticised the club for sharing a photo of Kanye West in the club's gear on Twitter . Which is pretty underwhelming considering you've just branded yourself a insane motherfucker.
Russian Soyuz rocket malfunctions, makes emergency landing
Russian officials said all manned space flight missions would be suspended until investigators figure out what went wrong . A duo of astronauts from the USA and Russian Federation has blasted off for a mission on the International Space Station .
Will Smith reveals first post for Disney's 'Aladdin'
The first poster for Disney's live-action Aladdin remake , in just three words? The tagline reads, "Choose Wisely". Aladdin plans to uses these wishes to win over the handsome Princess Jasmine, but the evil Jafar has other plans.
Prince Harry and Meghan Markle Reportedly Trying to Have a Child
It also could just be a color that Princess Eugenie likes, as she's worn various versions of red over the years. Windsor will once again play host to a royal wedding after Prince Harry and Meghan Markle tied the knot in May.
Donald Trump says Fed has 'gone crazy' after Dow Industrial Average tumbles
French markets and Germany markets lost over 2 per cent of its value while in the United Kingdom , the loss was 1.3 per cent. But financially, the latest trend originated in Europe where an Italian budget has brought back the fears of eurozone crisis.
Rocket carrying space station crew fails in mid air, crew safe
Thursday's incident was the first launch mishap for a Russian Soyuz booster since an on-pad abort in August 1983, CBS reported . The Canadian Space Agency said Thursday that it did not know whether the failed launch would affect Saint-Jacques' launch date.
NYPD detective's role cited in Weinstein case
Evans told her friend when they walked home that night that she had flashed her breasts to Weinstein in the restaurant's hallway. Weinstein appeared before New York Judge James Burke as his lawyers tried to have some or all of the charges he faces dismissed.
Google Shuts Down Google
The Google Plus data potentially exposed includes names, email addresses, occupations, dates of birth, genders and profile photos. Google + was launched in June, 2011 as a way to compete with other social networks such as Facebook.
Microsoft Just Did Something Big With 60,000 Patents
Why it matters: There's been plenty of friction between Microsoft and the open source advocates regarding patents over the years. Make a clear, unambiguous statement that it has ceased all patent infringement claims on the use of Linux in Android.
US says China spy charged with trying to steal aviation secrets
It has broad powers to conduct espionage domestically and overseas , the statement said. We can not tolerate a nation stealing our firepower and the fruits of our brainpower.
Amazon claims smartphone crown for Wednesday as Redmi 6A sale soars
Furthermore, you could get your hands on the device at an effective price of Rs. 7,777 per month with a no-cost EMI option. The iPhone X 64GB is down to Rs. 69,999 from its actual MRP Rs. 91,900 on both Flipkart and Amazon festive season sales.