Loyal to his style of negotiation, precisely when it was starting to look like we were on the brink of a historical agreement, President Trump re-ignited the global trade war and sent the markets into a tailspin • While the American economy was at its peak and the Chinese economy was continuing to reveal signs of distress, Trump’s hand appeared to be stronger – but America has much to lose in this extended poker game between the big powers

The year 2018 began with a burst of optimism regarding global economic growth in the coming years – optimism that did not last long • the trade war that broke out between the USA and China escalated quickly from one day to the next and now, despite the temporary ceasefire, the uncertainty has only increased, and the possibility of sliding into a global recession remains a realistic likelihood • Now the year 2018, which began with hopes for growth and prosperity, may go down in history as the forerunner of an economic nightmare