The world’s GDP has grown steadily. It went up by a total of 6.9% in 2018 – from $80.2 trillion in 2017 to $85.8 trillion in 2018. But thanks to the trade war and the instability in the international market, we are on the brink of a global recession
There is a visible market slowdown in the time we are living in. We stand at a crossroad of making insurmountably crucial decisions.
- The Trade war that the biggest economies are waging is not one that is affecting only them.
- All of the countries that are still in their development phase face crisis we don’t even wish to even talk about.
- The media is in some crook and niche hooting, “Global Recession!”
- About 40% of the economic control comes under two countries.
- USA bags $20.5 trillion of the world GDP, with a steady growth of 5.4% compared with 2017.
- China’s GDP, on the other hand, grew by 10%, reaching $13.6 trillion.
- USA contributes 23.9% to GDP of the world. The trade war that Trump only recently put a stop to has led China to have its worst quarter in 30 years.
The World’s biggest economies and their share of Global GDP (2018):
- USA – $20.49 trillion (23.89%)
- China – $13.61 trillion (15.86%)
- Japan – $4.97 (5.79%)
- Germany – $4 trillion (4.66%)
- United Kingdom – $2.83 trillion (3.29%)
- France – $2.78 trillion (3.24%)
- India – $2.73 trillion (3.18%)
- Italy – $2.07 trillion (2.42%)
- Brazil – $1.87 trillion (2.18%)
- Canada – $1.71 trillion (1.99%)
- In a survey by the National Association for Business Economics, 140 of 280 Business economists believe that slower growth should be expected.
- The headline factor leading to this is the tariffs the USA imposed on China earlier this year. Is there a chance of continued Trade War or will the globe see an untied front in the future?
- Playing Monopoly on the table we have Trump and this is worse than Game of Thrones.