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Last week, global as well as domestic data showed that trade has slowed significantly in 2019. Global trade has grown only by 1 per cent in the first half of 2019, the International Monetary Fund (IMF) noted in its World Economic Outlook.
As trade drives global growth considerably, the impact is visible in a number of countries. While India’s growth stands shoulder-to-shoulder with a slowing China, the IMF expects the US to grow at a slower pace in the coming years, and smaller Asian economies such as Bangladesh to grow faster than India (Chart 1).
The pattern of growth in
