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Citibank warns of Trump recession

UNITED STATES: Finance transnational Citibank warned yesterday that a Donald Trump Republican presidency could trigger a global recession.

“A Trump victory could lower global GDP growth by around 0.7-0.8” percentage points, said Citibank chief economist Willem Buiter’s team, claiming that victory for Wall Street favourite Hillary Clinton would instead boost growth.

“Our base case is for a Clinton victory and mostly continuity in policies.”

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