ACWI - Tax War: Will Global Competition To Lower Taxes Lift Growth?
By Jeffrey Kleintop
The "trade war" may be last year's news; a "tax war" may be getting underway this year. Competition to lower corporate tax rates around the world this year may help to support slowing global economic and earnings growth, potentially offsetting some of the drag from last year's trade tensions.
Trade policy and monetary policy are still getting a lot of attention from investors, but fiscal policy may turn out to be a bigger factor for markets in 2019. Monetary policy may start to see less attention from investors, with the Fed likely