China-US set to talk with global economy facing trade crucible

BEIJING - Chinese and American negotiators are set to start meeting again in Washington on Thursday in the latest round of their so-far fruitless talks to strike a trade deal.

With close to US$2 trillion in global trade flows at risk from greater protectionism, according to a Bloomberg analysis, those protectionist actions would depress trade, make businesses more cautious and further damage global demand. The tit-for-tat tariffs have driven down commerce, with Chinese exports down 9 per cent in the first eight months of this year, and imports from the US falling almost 28 per cent for the same period.

EUROPE The China-US dispute is just one of the risks facing the global economy, with Brexit and the ongoing dispute between the US and Europe over cars and industrial subsidies also posing a threat to trade flows. That German outlook went from bad to worse in September, an unpleasant surprise that marks the latest dismal reading on Bloomberg's Trade Tracker.

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Source: The Straits Times - 🏆 8. / 63 Read more »