The team at Bloomberg Economics published new estimates in which an extreme all-out trade war scenario would wipe almost $600 billion from the global gross domestic product in 2021 compared to a scenario in which there were no hostilities. Wall Street economists are also turning more pessimistic with Goldman Sachs Group Inc., Nomura Holdings Inc. and JPMorgan Chase and Co. among those rewriting their forecasts. Nomura sees a 65% chance that the U.S.
From Negative Rates The Ballot BoxPolitics is impacting economics worldwide. Indian Prime Minister Narendra Modi is heading towards re-election although will face deep-rooted economic challenges. Australia’s centre-right government pulled off a surprise election victory and immediately pledged to cut taxes to shore up a slowing economy. In the U.K. Prime Minister Theresa appears not to have long left in power with her economic legacy dominated by the fallout from Brexit.
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