It was a stark warning about the risks ahead for the global economy, even by the...
LONDON - It was a stark warning about the risks ahead for the global economy, even by the forthright standards of the boss of the Organisation for Economic Co-operation and Development.
“Let’s avoid complacency at all costs,” Gurria said. “Clearly the biggest threat is through the escalation of trade restriction measures, and this is happening as we speak. This clear and present danger could easily have knock-on effects.” The impact could be a lot more severe if Trump follows through on his latest threat to hit a further $300 billion of Chinese imports with tariffs and China retaliates again.
To be sure, that kind of worst-case scenario may well be averted, given the stakes for the United States and China. FILE PHOTO: U.S. President Donald Trump and China's President Xi Jinping meet business leaders at the Great Hall of the People in Beijing, China, November 9, 2017. REUTERS/Damir Sagolj/File Photo
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