The OECD has trimmed its forecasts for global growth in its latest economic outlook. It says slowing emerging markets are dragging on the world's economic recovery and advanced countries are struggling to pick up the slack.
The National Bureau of Statistics said that while growth has slowed, it still managed to remain relatively steady. Beijing has decided to focus on consumer spending to ride out a trade spat with the United States.
Petrochemicals, used in plastics, fertilizers and clothing, will account for more than one-third of the growth in world oil demand by 2030, according to a report. By 2050, they will be the biggest driver of oil demand.
It seems like bad news is springing up from many major economies. Although it's too early to talk of a doomsday scenario, the risks should no longer be ignored, says DW's Henrik Böhme.
The German government has lowered its forecasts for growth this year and next due to an increasingly tight labor market and risks associated with Britain's exit from the European Union and global trade disputes.
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