In October, the International Monetary Fund (IMF) has cut its global growth forecast as tensions between the United States and its trading partners escalate. IMF predicts the global economy will increase 3.7 percent - down from an initial estimate in April of 3.9 percent - due to several potentially disruptive trade policies: the new US-Mexico-Canada Agreement (replacing NAFTA) awaiting congressional approval, new tariffs imposed on $200B worth of goods from China, and the pending the US-Europe Trade Deal.
In addition, global corporate debt in both the private and public sectors — now stands at an all-time high of $182 trillion, a 60 percent increase since 2008.
Will these tensions result in a global trade war? What are the risks to the global markets in terms of economic performance and monetary policy? And what does all this mean for American businesses - including manufacturing and farming, two industries vital to Ohio?
Join us, the Cleveland Council on World Affairs, Global Cleveland, International Partners in Mission, and the Northeast Ohio Consortium for Middle Eastern Studies (NOCMES) for a conversation on the tensions and policies affecting the global economy.