In China, GDP growth slowed to 6.6% in 2018, its lowest annual rate since 1990. A further moderate slowdown in Chinese growth is expected this year (at 6.2%), as increased trade tensions could offset the positive effects of the stimulus package.
Before coming to the analysis of global risks for this year, which is the main topic of my lecture today, a short digression may be in order on the allegedly reduced role of globalisation.