While growth in the world economy remains slow, Afriforesight research head Vinesh Chetty has said growth for the full year will likely be positive, noting that research by Afriforesight indicates that there will not be a global recession.
In a webinar hosted by Afriforesight, on July 10, titled ‘Cobalt and Copper: African Opportunities’, Chetty explained that the slow growth could be attributed to the wave of inflation, adding that high interest rates often placed more downward pressure on the world economy.
He said that, while economic growth this year was weak, it was growing, mainly driven by the US and China.
He added that deglobalisation was also contributing to slower growth rates. Citing the example of the US trying to establish tariffs against Chinese goods, Chetty said trade barriers created friction and inefficiencies in the world economy, thereby contributing to…
