WASHINGTON: Grinding trade disputes are undermining the global economy, which is set to see its slowest growth in nearly a decade, the new IMF chief said on Tuesday .
"This widespread deceleration means that growth this year will fall to its lowest rate since the beginning of the decade." IMF research shows the secondary effects of the trade war - such as the loss of confidence and financial market reactions - are far greater than the direct economic impact of the tariffs.
While some governments are burdened by high debt levels,"in places such as Germany, the Netherlands, and South Korea, an increase in spending - especially in infrastructure and R&D - will help boost demand and growth potential", she said. That includes resolving legitimate concerns over protection of proprietary technology, an issue at the center of Washington's dispute with Beijing.
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