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The China teapot refiners’ headwinds

The China teapot refiners’ headwinds

The escalating trade war between the two biggest economies, the United States and China is a cause for worry in global business. The effect of the trade war is indeed, trickling down into the Chinese real economy and sapping downstream demand especially for gasoline. If not checked it may not take a longer time for the situation to exacerbate with global economies going into recession. The threat of an all-out trade war would dampen the outlook for the global economy. There has been intense concern about a slowdown in China, believed to be the motor for growth in the global economy in recent times. Bloomberg’s Economists say: In an extreme case, where the U.S. imposes 25 percent tariffs on all Chinese imports, and keeps them in place for an extended period,China’s growth could fall to 6 percent in 2019, and 5.4 percent in 2020, even assuming that the government steps up stimulus. The impact on global growth analyst believe is non-linear; the risks are firmly skewed to the downside and the window for resolution is narrowing.

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