(Bloomberg) --
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.
©2019 Bloomberg L.P.
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