US stocks plunged on Monday as investors worry that US President Donald Trump's threatened new tariffs on Chinese imports will worsen trade prospects. Photo: Xinhua

Global financial crisis, recession risks raised as US-China trade war tensions escalate over currency row

  • Former US Treasury Secretary Lawrence Summers says world at the ‘most dangerous financial moment’ since the 2009 global economy meltdown
  • Washington labelled China a ‘currency manipulator’ after the yuan exchange rate dropped to its lowest rate for 11 years on Monday
Topic |   Currency war

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US stocks plunged on Monday as investors worry that US President Donald Trump's threatened new tariffs on Chinese imports will worsen trade prospects. Photo: Xinhua
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