Global economic growth is projected to slow to 2.9 percent in 2019, the World Bank said on Tuesday.

 

世界银行周二表示，2019年全球经济增长预计减缓至2.9%。

 

In its newly-released Global Economic Prospects¹ report, the World Bank said the outlook for the global economy "has darkened" as global financing conditions have tightened², trade tensions "have intensified," and some large emerging market and developing economies have experienced significant financial market stress.

 

"Faced with these headwinds, the recovery in emerging market and developing economies has lost momentum," the report said, expecting emerging market and developing economies to grow at 4.2 percent in 2019, 0.5 percentage points lower than previously³ projected in June.

 

Growth in advanced economies is estimated to slow to 2 percent in 2019 from 2.2 percent in 2018, as major central banks continue to withdraw monetary⁴ policy accommodation, according to the report.

 

"Downside risks have become more acute and include the possibility of disorderly financial market movements and an escalation⁵ of trade disputes," the report said, warning that intensifying⁶ trade tensions could result in weaker global growth and disrupt globally interconnected value chains.

 

The report estimated that China's economic growth will slow to 6.2 percent in 2019 from 6.5 percent in 2018 as domestic and external rebalancing continue.

 

"Authorities in China have shifted to looser monetary and fiscal⁷ policies in response to a more challenging external environment...these policy steps are expected to largely offset⁸ the direct negative impact of higher tariffs⁹ on China's exports," the report said.

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