The International Monetary Fund has cut its global growth forecasts for the second time in three months. Central banks in the U.S. and Europe are reversing a decade of ultra-loose monetary policy. U.S.-China Trade tensions are hurting investor sentiment worldwide and a flurry of crises, from Brexit to the U.S. government shutdown, are keeping top world leaders away from Davos as they have more urgent problems to solve at home.
No wonder the mood at the World Economic Forum this year is decidedly somber, in striking contrast to the widespread optimism that dominated the annual Alpine meeting of the rich and powerful just 12 months ago.
U.S. President Donald Trump has vowed to increase tariffs on $200 billion worth of Chinese imports on March 2 if China fails to address intellectual property theft, forced technology transfers and other barriers.
Article source: http://www.dailystar.com.lb//Business/International/2019/Jan-23/474766-davos-bankers-try-to-put-on-brave-face.ashx