Illustration: Sarah Grillo/Axios

In January 2018, coming off of a year in which global growth rose to near 4%, then-IMF managing director Christine Lagarde said the global economy was experiencing "the broadest synchronized global growth upsurge since 2010" and that "all signs point to a continuous strengthening."

The latest: On Tuesday, the IMF said it expects global growth to slow to the weakest pace since the 2008 global financial crisis, noting the decline would be a significant drop from its 2017-18 levels.

  • It was the third time this year the organization has cut its growth projections and the fourth time since 2018, when the Fund anticipated 3.9% growth this year.

What we're hearing: "With uncertainty about prospects for several of these countries, a projected slowdown in China and the United States, and prominent downside risks, a much more subdued pace of global activity could well materialize," IMF chief economist Gita Gopinath said at a press conference announcing the Fund's World Economic Outlook and revised projections.

The big picture: The biggest factor weighing on global growth is the U.S.-China trade war launched by President Trump in April 2018, which Gopinath and the IMF expect will cost the world 0.8% in GDP losses this year.

  • Even its latest watered-down growth predictions are optimistic and rely on some against-the-grain expectations: that Brexit will be resolved in an orderly fashion, the U.S.-China trade war will wind down and other geopolitical conflicts will cool.

Watch this space: The 3% number is particularly important because Gopinath projects that if growth were to slow to 2.5%, "that’s a scenario where several countries are in recession."

Threat level: The global economy already is in "a synchronized slowdown," IMF managing director Kristalina Georgieva said at a recent news conference.

The bottom line: To keep the global economy from falling into a recession, "policymakers must undo the trade barriers put in place with durable agreements, rein in geopolitical tensions, and reduce domestic policy uncertainty," Gopinath said.

  • There are few who expect that to happen.

Go deeper: A synchronized global slowdown

Go deeper

Pre-bunking rises ahead of the 2020 election

Illustration: Eniola Odetunde/Axios

Tech platforms are no longer satisfied with debunking falsehoods — now they're starting to invest in efforts that preemptively show users accurate information to help them counter falsehoods later on.

Why it matters: Experts argue that pre-bunking can be a more effective strategy for combative misinformation than fact-checking. It's also a less polarizing way to address misinformation than trying to apply judgements to posts after they've been shared.

Kendall Baker, author of Sports
1 hour ago - Sports

Locker Room wants to reinvent how fans talk sports

Courtesy: Betty Labs

Locker Room, a social audio app where fans can talk sports and spontaneously join live conversations, launches Tuesday on the App Store.

The state of play: The company behind Locker Room, Betty Labs, has raised $9.3 million in seed funding led by Google Ventures with participation from Lightspeed Venture Partners, Axios has learned.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Axios-Ipsos poll: Federal response has only gotten worse. The swing states where the pandemic is raging.
  2. Health: The coronavirus is starting to crush some hospitals. 13 states set single-day case records last week.
  3. Business: Where stimulus is needed most.
  4. Education: The dangerous instability of school re-openings.
  5. States: Nearly two dozen Minnesota COVID cases traced to 3 Trump campaign events
  6. World: Unrest in Italy as restrictions grow across Europe.
  7. Media: Fox News president and several hosts advised to quarantine.