Some analysts say that the trade spat between the U.S. and China is inching the world economy closer to a recession.

Former U.S. Treasury Secretary, Lawrence Summers, says in the U.S. alone, the recession risk is “much higher than it needs to be and much higher than it was two months ago.”

Meanwhile, tight labor markets globally and the recent shift by central banks are expected to provide a cushion, but economists are starting to war game for how a recession could happen.

Source: https://www.fa-mag.com/news/world-economy-edges-closer-to-recession-as-trade-woes-spread-50968.html