In late May, former People’s Bank of China governor Zhou Xiaochuan dismissed the importance of keeping the yuan above 7 to the US dollar, prompting analysts to argue that a weaker yuan could help exporters. Photo: Bloomberg

Trade war with US could spark global financial ‘chaos’, warns former China central bank governor

  • Former People’s Bank of China governor Zhou Xiaochuan warns that emerging markets reliant on exports may resort to competitive currency devaluations
  • Ex-central bank chief tells Lujiazui financial forum that reform of the World Trade Organisation could form part of a permanent solution
Topic |   G20

TOP PICKS

In late May, former People’s Bank of China governor Zhou Xiaochuan dismissed the importance of keeping the yuan above 7 to the US dollar, prompting analysts to argue that a weaker yuan could help exporters. Photo: Bloomberg
READ FULL ARTICLE
The US fell to the sixth largest foreign investor in China in April from the third largest in March, according to the data. Photo: Reuters

Trade war could cause global recession, Beijing official warns, as US investment growth in China sinks

  • US investment in China grew 7.5 per cent between January and May, year on year, a much slower pace than the 24.3 per cent recorded between January and April
  • Ministry of Commerce spokesman Gao Deng says that the trade war ‘could cause a recession in the United States and global economies’
Topic |   Investing

TOP PICKS

The US fell to the sixth largest foreign investor in China in April from the third largest in March, according to the data. Photo: Reuters
READ FULL ARTICLE