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Oecd - Oecd Cuts Global Growth Forecasts Amid 'deep Concern' Over Slowdown

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A "deeply concerning" slowdown in trade, particularly with China, will lead to lower global economic growth this year, says the Organisation for Economic Co-operation and Development.

Global GDP is now expected to grow by 2.9%, down from 3% forecast in September, but will hit 3.3% in 2016.

The OECD said trade had dropped to levels perilously close to those "associated with global recession".

Worldwide trade growth is forecast at 2% this year, down from 3.4% in 2014.

Catherine Mann, the OECD chief economist, said: "This is deeply concerning. Robust trade and global growth go hand in hand."

Calling world trade a "bellwether for global output", she said sluggishness in Europe had now been replaced by weak growth in emerging markets.

China, the world's largest trader of goods, seemed to be "at the heart of this" as its economic slowdown had hit other Asian economies and commodity exporters, she said.

The OECD has repeatedly cut its 2015 global growth outlook from the 3.7% it initially forecast last November.

In a low wage high debt economy how do they expect workers to have disposal income to buy tat?

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CEO Of World's Largest Shipping Company: "Global Growth Is Worse Than Official Reports"


According to the CEO of Maersk, the world's biggest container shipping company, "the world’s economy is growing at a slower pace than the International Monetary Fund and other large forecasters are predicting." Andersen adds that "we believe that global growth is slowing down. Trade is currently significantly weaker than it normally would be under the growth forecasts we see....we’re a little bit more pessimistic than most forecasters."

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