Higher interest rates and weaker trade, as well as sluggish growth in China, likely to hit big economies
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Germany is expected to experience the heaviest blow from a slowdown in the world economy driven by higher interest rates and weaker global trade, the Organisation for Economic Co-operation and Development has warned.
In downbeat forecasts for the world economy, the Paris-based organisation said Europe’s largest economy was likely to be the only G20 country apart from Argentina to shrink this year during a wider international slowdown.
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