The International Monetary Fund reduced its global growth estimate on Monday, warning that the growth momentum seen in recent years is slower.
The IMF is now preparing 3.5 percent growth worldwide in 2019 and 3.6 percent for 2020. These are 0.2 and 0.1 percentage points below its last October forecasts – making it the second decline review in three months.
"A number of triggers in addition to escalating trade tensions could rub a further deterioration of the risk signal with negative growth implications, especially given the high level of public and private debt," the Fund says.
These potential triggers include a "no-deal" Brexit for the UK and a deeper than expected slowdown in China. The IMF report comes back to China, reporting its slow economic growth for almost three decades.
At the global economic forum in Davos, Christine Lagarde, IMF chief executive, said: "After two years of solid expansion, the world economy is growing slower than expected and risks are rising. . "