Worries about a potential recession have grown, following the events of recent days when - in a fundamental shift - it has dawned on markets, businesses, analysts and pundits that no United States-China deal is in the offing for the foreseeable future.
Morgan Stanley, in a note to clients last week, said a recession would come in nine months if US President Donald Trump goes one step further than the 10 per cent tariff he has threatened on Chinese goods from Sept 1.
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