The increase in the number of bankruptcies in the Netherlands will continue in 2020, credit insurer Atradius expects. Enterprises will suffer from lower consumption growth in the Netherlands itself and geopolitical problems.
This puts the global economy under pressure. A 2.5 percent growth is expected for this and next year, a lot less than the 3.2 percent that was assumed a year ago.
World trade will even shrink this year, the credit insurer expects. A slight recovery is expected for 2020.
The problems are mainly a result of the trade dispute between the United States and China, but the slump in German industry, the continuing uncertainty about Brexit and weak emerging economies are also affecting the global economy.
"The trade war between the US and China has far-reaching consequences for world trade. If the trade war spreads to other economies in Asia and Europe, which is quite possible, world trade will slow even further," emphasizes John Lorié, chief economist at Atradius.