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The Trade War Is Killing Business Confidence

In Davos, CEOs express concern over populism, policy uncertainties

Rising populism, policy uncertainty and trade conflicts have led to a sharp drop in confidence among global CEOs.

The share of chief executives who think the global economy will slow over the next year has jumped to nearly 30 percent from 5 percent in 2018, according to a survey of 1,300 top business leaders by audit giant PwC.

The wave of pessimism extends to company earnings. Just 35 percent of CEOs said they are "very confident" about their growth prospects over the next 12 months, a sharp decline from 42 percent last year.

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