Trade war still poses biggest threat to global economy

Close-up of a Dollar banknote and Yuan Chinese banknote and downward market trend line

The US-China trade war remains the single biggest threat to the global economy, according to a survey of logistics executives revealed at the World Economic Forum summit in Davos, Switzerland.

The poll, conducted over the course of a month by logistics company Agility and Transport Intelligence, shows that 28% of professionals believe the tariff dispute between the world’s two largest economies was not over.

This comes despite the US and China agreeing the first phase of a trade deal in December 2019. The trade war has seen tariffs worth approximately $400 billion imposed on goods between the two countries since January 2017.

Relations between East and West dominate the survey, with US-Iran tensions in second place on 19% and a slowdown in the Chinese economy a close third on 17%.

An emerging market debt crisis is fourth on 16% and a so-called ‘technology war’ fifth with 11%; Brexit is last on 8%.

The survey is yet another example of China’s importance to the global economy and cross-border trade.

It is the strongest country in the maritime world and is home to seven of the 10 biggest ports in the world.

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