CLEAN : Trade wars could shrink global economy by $700 bn: IMF's Georgieva

The video discusses the potential economic impact of trade wars on the global economy, estimating cumulative losses of around $700 billion by 2020, which is approximately 0.8% of global GDP. This highlights the significant effect trade conflicts can have on global economic stability.

What is the estimated financial impact of trade conflicts in billions?

What are the cumulative losses of trade conflicts projected to be by 2020?

What percentage of global GDP do the projected losses represent?

How significant are the projected losses in the context of the global economy?

What does the phrase 'not something to sniff at' imply about the projected losses?