Post AtLnHEYJlZ1vdbceQK by wellingtonrock@mastodon.social
 (DIR) More posts by wellingtonrock@mastodon.social
 (DIR) Post #AtLmUYhW4B93wAiNl2 by cdarwin@c.im
       2025-04-22T13:20:37Z
       
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       The global economy will slow sharply this year, weighed down by Donald Trump’s imposition of the highest import taxes in more than a century and the cloud of uncertainty that has billowed in their wake, the International Monetary Fund said Tuesday.
Global growth will downshift to an annual rate of 2.8 percent, half a percentage point lower than projected in January and a “significant slowdown,” the fund said. Only a tepid rebound to 3 percent growth is likely in 2026, leaving the world economy expanding for the next two years well below its long-run average of 3.7 percent, according to the fund.Progress on bringing inflation under control also will be hurt.
Trump’s double-barreled tariff plan — a 10 percent tax on nearly everything the United States imports each year plus significantly higher levies on goods from dozens of nations — will hurt the United States and its trading partners, the fund saidhttps://www.washingtonpost.com/climate-environment/2025/04/22/trump-tariffs-imf-global-economy/
       
 (DIR) Post #AtLnHEYJlZ1vdbceQK by wellingtonrock@mastodon.social
       2025-04-22T13:29:22Z
       
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       @cdarwinThis analysis is all good, but omits one important issue.Western economies will require 'de-growth' strategies if humans are to remain on Planet Earth. The third world, historically raped and exploited by Western Imperialists, will also require reparations if the world is to prosper. Neoliberal economics - the philosophical framework followed by most of today's governments leaves us without a genuine survival strategy.