Bank of America predicted the worst since the last crisis, the end of the year


Photo: Kin Cheung / AP

Economic growth in the world will fall.

For the world economy in 2020 will be the worst since the end of the last global economic crisis in 2009, reports Business Insider, citing the conclusions of experts Bank of America, RBC.

Economic growth in the world will fall for the year to 2.8%, although since 2009 the decade the world economy are constantly growing with rates exceeding 3%. One of the main reasons for the slowdown of the Chinese economy in connection with the epidemic of the coronavirus. “Growth was weak even before the coronavirus shock. However, aggressive quarantine measures China due to a virus indicate a very weak country for the first quarter”, — quotes the edition of the conclusions of economist Bank of America the spouse of the God bhava.

The growth forecast for the Chinese economy in 2020 is also lowered: instead of the previously expected to 5.6% now it is estimated at 5.2 per cent. “Prolonged destabilization in China will hurt global supply chains. Weak tourist flows will be another “headwind” for Asia. In addition, the limited outbreak [of disease], such as the one that happened in Italy, it is possible in many countries, and it will strengthen quarantine and loss of confidence,” believes God bhava.

Along with the spread of infection on the growth of the global economy will have a negative impact as the us-China trade war and the uncertainty due to the upcoming elections of the President of the United States., he said. However, the recession or stagnation in the global economy we are not talking, analysts say Bank of America.