US economy could lose up to 5 pct if Donald Trump beats Hillary Clinton in presidential election: "A win for U.S. presidential candidate Donald Trump could have grave implications for the world's largest economy, according to Oxford Economics.
If Trump were able to implement all of his proposed policies, that would undermine global economic growth and knock 5 percent off where U.S. gross domestic product (GDP) would otherwise be in 2021, U.K.-based economists Jamie Thompson and Sarah Maxwell said in a note Tuesday. That would erase as much as $1 trillion off the forecast size of the U.S. economy in 2021, Thompson said via email.
"The consequences are far-reaching," the economists said. Oxford Economics is an independent advisory firm, originally founded in 1981 as a commercial venture with Oxford University's business college.
In what the economists call their "adverse Trump scenario" of substantially all of the Republican candidate's stated policies being enacted, the slowdown would be far deeper than in a scenario of partial policy enactment and growth would remain subdued longer. Oxford Economics' baseline forecasts were for the U.S. economy to grow 1.5 percent to 2.3 percent a year for 2016-2021."
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