Trade disruption a symptom of deeper malaise

Mohamed El-Erian| Allianz | 19 August 2019

It's only a matter of time until the escalating tensions between China and the United States prompt many more economists to warn of an impending global economic recession coupled with financial instability. On 5 August, Bloomberg News noted that the yield curve, a closely watched market metric, "Blares Loudest US Recession Warning Since 2007". And Larry Summers, a former US Treasury Secretary who was also closely involved in crisis-management efforts...

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