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The Guardian - UK
The Guardian - UK
Business
Larry Elliott

Protectionism is slowing growth and entrenching poverty, says World Bank

A ship loaded with cars for export leaves the port of Yantai, Shandong Province, China
A ship loaded with cars for export leaves the port of Yantai, China. The US has raised its tariff on imports of Chinese battery-powered cars from 25% to 100%. Photograph: Costfoto/NurPhoto/Rex/Shutterstock

A new era of protectionism is leading to slower global growth and hindering attempts to eradicate poverty, the World Bank has warned.

The Washington-based institution said 80% of the world’s population – more than 6 billion people – were living in countries where growth would be slower in the next three years than in the pre-Covid decade.

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