China holds up world economy

With a dysfunctional US and a sclerotic Europe, China is holding the global economy together. Should we be worried?

In the last few weeks, the world economy has seen worrying turmoil. Whether or not a recession is imminent, there has certainly been a collapse of confidence.

What has got investors so rattled? There are long-term factors in play, like demographic trends and a slowdown in technological change. But what seems finally to have dawned on the markets is that globalisation is no longer supported by the combination of investor-friendly economic policy and congenial politics they have long taken for granted.

Please or to continue reading the full article. Learn more about ST PREMIUM.

Enjoy unlimited access to ST's best work

  • Exclusive stories and features on multiple devices
  • In-depth analyses and opinion pieces
  • ePaper and award-winning multimedia content
A version of this article appeared in the print edition of The Straits Times on September 04, 2019, with the headline 'China holds up world economy'. Print Edition | Subscribe