trade war and the Chinese economy
China has to fight on two economic fronts at the very same time. Trade war and rising debt. China’s debt surged passed 270% higher than GDP, last year. The debt surged up from 164% in pre-economic global recession times.
China’s economic growth may be showing a negative trend. But that won’t mind them. Its a massively built economy and could sustain minor scars.
A ‘ceasefire’ has been imposed since both the leaders, Trump and Xi met on the sidelines of the G20 summit. But truce itself is not a tangible solution unless coupled with ease of sanctions in the form of price and tax cuts.
China is also facing some sort of internal turmoil. Hong Kong has erupted into violent protests against the extradition bill. The youth of Hong Kong is protesting the exploitation of local markets by Chinese mainland businessmen.
Economic war is posing serious threats to the global economy. Even America is not in a state of comfort either. The two countries should give up on hostilities and self-centered approaches for the betterment of the entire world. The world is in a state of economic and political turmoil and is on the verge of a third world war. The global leaders must be more serious in addressing chronic global issues, before its too late.
Copyright © 2019 Ghanalive.TV. All Rights Reserved.