|EDITORIAL: Troubled times for global economy|
EDITORIAL: Troubled times for global economy
It is no longer a secret that an economic crisis in the world has been looming for quite some time, and those who follow serious economic reports realize that we are living Economic crisis does not distinguish between countries, especially in light of the trade war between the United States and China.
Ever since the trade war broke out, global markets have been watching closely for an imminent economic meltdown, especially after falling demand for US bonds and falling industrial production in China and the US so we recently came out with risk management from JPMorgan telling us about the outlook for a new global financial crisis in 2020.
The report was the most dangerous for the global economy, and more so for Britain as it is close to leaving the European Union. It also reveals an unprecedented decline this year in China’s manufacturing output, reaching its lowest level in 17 years; the German economy contracted by 0.2% in the second quarter of this year, the same as in Britain.
The spectre of the economic crisis, which has become clear to everyone, will not pass unnoticed, especially for those countries with major economic woes.
What is more worrying is the question of what will happen China is stubborn with the United States and this is what the US will strongly reject. China is set on controlling the world economy and we do not exaggerate if we say that it is a matter of life and death, and may reach a third world war, especially when you know that it may suffer from economic suffocation.
We hope that the US Trump administration and China will realise the danger of entering into a “third world war” especially with the looming environmental crisis, one which the UN warns will hit all of us sooner and harder than forecast earlier. The report showed key indicators of climate change -- global average temperatures, sea level rises and glacier sizes -- showed that the last five years had seen unprecedented warming.
It is likely that a trade world war could well pale in comparison to the crisis that will affect every living creature on this planet, human or otherwise.
Editor in Chief