Global News
Global Trade – Data published this week by the OECD, highlighted the fall of exports and imports across all major European economies. The global trade slowdown hit EU countries the hardest. Falls of 3.6% and 1.7% respectively in France and of 0.4% and 1.8% in Germany demonstrate the impact. Laurence Boone, the OECD chief economist, warned that high levels of uncertainty regarding trade policies and geopolitics have resulted in this stagnating global trade which has contributed to the downturn in economic activity.
Hong Kong bill – Attitudes towards the US-China trade negotiations were positive at the start of the week following talk of a deal near completion. However, following news of President Donald Trump signing a bill expressing support for Hong Kong protestors, moods between the two countries were soured as an angered China claimed the US president was not acting with Chinas best interests. Thursday was spent mostly waiting for a response from Chinese officials in response to Trump’s actions. This morning saw Asian markets down again.
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