US-China trade tension to dent global growth, India GDP to slow too: Report

Slowdown in global growth and trade is likely to dent GDP growth in India as well, with analysts at Nomura expecting it to slow to 6.8% in FY19

The ongoing tussle on trade between the United States (US) and China will dampen global growth and adversely impact corporate confidence and capex, says the latest Global Economics report by Morgan Stanley. 

The team led by Chetan Ahya, their chief economist and global head of economics, along with Derrick Y Kam, Nora Wassermann and Frank Zhao estimate a negative impact of 30 – 40 basis points (bps) on global growth in case the trade tensions were to re-escalate with the US hiking the tariffs on $200 billion worth of Chinese goods to 25 per cent from the current 10 per