July saw the Trump administration implement the first round of tariffs in the trade war between the world’s two largest economies. The economic impact of this was visible in the slowing down of both industrial production and sales during the third quarter of 2018. Additionally, this will lead to an increase in unemployment and a weakening of the Yuan. Already, China has been trying to tackle a heavy debt burden owing to huge non-performing loans, mostly held by state-owned companies.

Ranjit Baxi 1

Jean-Luc Petithuguenin 2

Reinhold Schmidt 4

Ekrem Demircloglu 5

Giampiero Magnaghi 6

Martin Leander 7

Martin Soth 8

Francisco J. Donoso 9

Keith Trower 10

冶金工业信息标准研究院