It could have been a lot worse. In April, as President Donald Trump started his trade war, investors and many economists braced for a steep global recession. In the end, global gdp will probably grow by around 3% this year, the same as last. Unemployment remains low almost everywhere. Stockmarkets have logged another year of respectable gains. Only inflation is really a worry. Across the oecd it remains above central banks’ 2% targets. PREMIUM Representational image.(Representational Image