America's business economists think President Donald Trump's trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year.
The slowdown in China’s economy deepened in August, with growth in industrial production at its weakest 17-1/2 years amid spreading pain from a trade war with the United States and softening domestic demand.
Profits earned by China’s industrial firms contracted in June after a brief gain the previous month, fueling concern that a slowdown in manufacturing from a bruising trade war will drag on economic growth.
Leaders of the Group of 20 major economies warned on Saturday of growing risks to the global economy but stopped short of denouncing protectionism, calling instead for a free, fair trade environment after talks some members described as difficult.
The US and China appear to be close to ending a tariff fight that hurt financial markets and dented economic activity worldwide, but that's not going to stop the slowdown already seen in the global economy, experts said on Monday.
Global growth is expected to slow in the coming months, but Asian economies could hold up reasonably well, thanks to several ‘mitigating factors’, according to the chief executive of Southeast Asia's largest bank.
Trade frictions, risks linked to Britain’s possible departure from the European Union this year without a deal and weaker growth in emerging markets are putting the brakes on a nine-year upswing in Europe’s economic powerhouse.