Organisation for Economic Cooperation and Development predicted global growth of 3.5% in 2019 as compared to 3.7% estimated earlier
Experts say the world economy is in a downward spiral with the Organisation for Economic Cooperation and Development predicting global growth of 3.5 percent in 2019 as compared to 3.7 percent estimated earlier.
While the ever-escalating trade war between two of the biggest economies in the world, the US and China, have played a major role, other factors such as the rising interest rates, fluctuating crude oil prices and geopolitical instability have further added to the woes of the world economy.
If the situation continues to intensify, developing economies such as India, South Africa, Brazil among others could bear the brunt of the global slowdown.
CNBC-TV18 Consulting Editor Udayan Mukherjee delves into the extent of the global slowdown and what it could mean for the Indian economy.Watch the video for more