Global trade disruption is a symptom of a deeper malaise | Mohamed El-Erian

Resolving US-China trade war is not enough to ward off what many fear is a looming worldwide recession It is only a matter of time until the escalating tensions between China and the US prompt many more economists to warn of an impending global economic recession coupled with financial instability. On 5 August, Bloomberg News Larry Summers, a former US treasury secretary who was also closely involved in crisis-management efforts in 2008-09, recently The Only Game in Town, all of these recent developments and also, of course, the growing US-China tensions are related in a meaningful way to two basic and persistent features of the global economy since the 2008 financial crisis. The first is the prolonged period in which …

China expected to retaliate over Trump tariff hike, economic adviser says

Larry Kudlow says We may know more today or this evening or tomorrow after Trump raises spectre of a full-blown trade war The US expects China to retaliate over the Trump administrations Talks ended on Friday and tweeted saying Beijing had deliberately sought to delay negotiations. China felt they were being beaten so badly in the recent negotiation that they may as well wait around for the next election, 2020, to see if they could get lucky [and] have a Democrat win, he said. Kudlow told Fox no more talks were planned but also said there was a strong possibility Trump and Chinese president Xi Jinping will meet in Japan at [the] G20 summit at the end of June. In …