First, surveys of companies across developed economies reveal growing apprehension in the business sector over trade tensions and geopolitical risks. Another key Chinese contributor to global growth — Chinese tourist spending abroad — declined around 10% in the first quarter of this year compared with last year. Clearly, global trade will not be a positive driver of regional exports. Indeed, the World Trade Organization’s latest lead indicator for global trade conditions was discouraging. The region’s economic growth will thus slow in the coming year to year and a half.

Source: The Edge Markets July 07, 2019 13:30 UTC