LONDON – U.S. President Donald Trump is playing hard-ball with China over trade, and the worry-warts are fretting that he’s going to start a real trade war by accident. The bigger threat, however, is that he will push first China, and then the whole world, into a deep recession.
It’s been 10 years since the last recession (2008-09), and that one was a doozy. Recessions tend to come around once a decade, so one is due about now anyway — and the Chinese economy is so shaky that almost any serious shock could topple it into the pit. The rest of the world would follow.
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