BENGALURU : A synchronised global economic slowdown is under way and any escalation in the U.S.-China trade war would trigger a sharper downturn, according to Reuters polls of hundreds of economists from around the world. That is a major shift in sentiment from just a year ago, when economists were optimistic about a significant global upturn. But an escalation in trade tensions and tightening financial conditions have hurt activity in most economies and dragged China's growth last year to the weakest in 28 years.

In the latest Reuters polls of more than 500 economists taken this month, growth this year was cut for 33 of 46 economies the respondents were asked about and left unchanged for 10. Predictions for only three smaller economies were marginally upgraded.

The outlook for inflation this year was trimmed for most economies too, with lower lows and lower highs. Over half of nearly 270 economists who answered an additional question said a further escalation in the U.S.-China trade war will likely trigger an even sharper global economic slowdown this year.

With a March 1 deadline set by the White House for an agreement or risk of an escalation of tariffs on another $200 billion worth of Chinese goods, both U.S. President Donald Trump and Chinese President Xi Jinping are still far apart on key structural elements critical for a deal.