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All-Out Trade War Could Cost Global Economy $1.2 Trillion

Collateral Damage

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The recent escalation in the trade war could cost the already fragile world economy dearly. Modelling by Bloomberg Economics shows that global GDP would be 0.6% lower in 2021 if the market slumps during an all-out trade war, compared to a no trade war scenario. That’s the equivalent of a $1.2 trillion hit to the global economy.