s fastest-growing region is slowing and show sign of a darkening global outlook. Just look at Chinas Q3 growth. It`s the weakest growth in 28 years. The Chinese economy advanced 6% YoY in Q3 2019 and that is the weakest since 1992.
China have a trade tension with the U.S, weakening global demand and alarming off-balance-sheet borrowings by local governments. IMF said on Friday that the growth can get worse, but Japanese Finance Minister Taro Aso said «All policy tools must e used to achieve sustainable growth.»
In its World Economic Outlook report on Tuesday, the IMF cut its economic growth forecast for the Asia-Pacific region to 5,0% for this year and 5,1% for 2020, and that is the slowest pace of expansion since the global financial crisis.
A faster-than-expected slowdown in China
s economic growth could also generate negative spillovers in the region, as many Asian countries have supply chains closely tied to China, the IMFs Rhee said.
The IMF slashed China`s growth forecast to 6,1% for this year and 5,8% for 2020, pointing to the impact from the trade conflict and tighter regulation to address excess debt. But China is not alone.
The pace of global economic activity remains weak, and after slowing sharply in the last three quarters of 2018, momentum in manufacturing activity, in particular, has weakened substantially, to levels not seen since the global financial crisis.
Rising trade and geopolitical tensions have increased uncertainty about the future of the global trading system and international cooperation more generally, taking a toll on business confidence, investment decisions, and global trade.
A natable shift toward increased monetary policy accommodation, through both action and communication, has cushioned the impact of these tensions on financial market sentiment and activity, while a generally resilient service sector has supported employment growth.
To strengthen resilience, policymakers should address financial vulnerabilities that pose risks to growth in the medium term.
Making growth more inclusive, which is essential for securing better economic prospects for all, should remain an overarching goal.
A positive cheerleader like Trump is the right man to reach that goal. Not the Media-Mob-Clowns talking about recession ever day. What is Trump doing for his country? What about the Media Mob?