Globalisation will slow or possibly even reverse, predicts Coutts.

In its 2019 investment outlook, the London private bank spelled out how decades of globalisation have contributed to stronger worldwide growth, while bringing rapid social change and rising inequality in developed countries, fuelling popular opposition to open borders and trade.

The bank predicted that the trade war between the US and China would continue to fuel investor concerns, and what happens next would set the tone for the year ahead.

Investors concerned about slowing economic growth are watching the direction of the US dollar and intere...