The IMF expects a 7.6% expansion in Asian economic growth next year on the assumption that containment policies succeed, but added the outlook was highly uncertain.

The head of the International Monetary Fund said she believed not only the United States but many other advanced economies and a number of developing countries had already entered downturns.

The Liberals’ upcoming budget will need to respond to the economic uncertainty from the COVID-19 outbreak and the rail blockades, Rob Breakenridge says.

Like previous outbreaks, the flu-like disease poses a risk to economies around the world as fear and confusion lead to abrupt changes in behaviour, decreased economic activity and a ripple effect across sectors that threatens everything from productivity to consumer prices.

The report said last year ended up having the slowest global economic expansion since the world financial crisis in 2008-2009.

The headlines of 2019 were dominated by trade-related issues, including fears of Britain leaving the European Union.

According to the report, the lowest 20 per cent of income earners receive less than one per cent of the total worldwide income — a statistic that has not moved in the last 13 years.

According to Statistics Canada data, Canada sends around just three percent of its exports to Britain.

Trudeau and some members of his cabinet are set to take part in the Women in the World Canada summit.

Oxfam released a report, saying there were 233 more individuals who became billionaires between April 2016 and March 2017, the highest in any year.