Moody’s Analytics senior economist, Mark Zandi, told CNBC in an interview that the world economy could fall into recession if the United States and China did not sign a trade agreement in the next 3 months. He came to this conclusion based on a survey recently conducted by Moody’s among companies around the world. The survey showed the lowest level of trust of companies since 2009, when the financial crisis ended. Business sentiment may deteriorate further if a trade deal is not concluded between the United States and China. Companies will begin to reduce hiring, which will increase unemployment. According to the economist, only faith in further economic growth can help avoid a recession. No measures imposed by central banks can do this. Zandi considers Brexit without an agreement to be the second risk for the global economy. According to his estimates, the probability of “hard” Brexit is one to three.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...