An “alarming” lurch towards economic protectionism risks derailing the global economic recovery, top officials have warned as the race for the US presidential election enters its final days.
Speaking on the sidelines of the IMF’s annual meetings with the World Bank in Washington this week, officials expressed relief at signs that the global economy is on track for a soft landing, avoiding recession after the worst bout of inflation for a generation.
However, they cautioned that mounting political risks in the US and elsewhere threatened the outlook.
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