Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.
IMF Alert: Global economy breakup could shrink GDP by 7%
Posted on December 18, 2023 |
The International Monetary Fund (IMF) issues a caution about the global economy facing fragmentation and changing trade dynamics due to the Ukraine war and US-China tensions.
Possible outcomes include a potential "new Cold War," with estimated losses ranging from 2.5% to 7% of the global gross domestic product (GDP).
Despite no widespread withdrawal from globalization, signs of geoeconomic fragmentation are becoming more apparent, causing concerns.
The IMF highlights the emergence of fault lines in the global economic landscape, stressing the importance of addressing these shifts.
Tensions and conflicts, particularly between the US and China, contribute to the risk of a scenario resembling a "new Cold War," with potential economic impacts.