Taking Stock 

Yielding to the inevitable

Mark Robinson

Yielding to the inevitable

A year ago, a consensus was emerging that the combination of punitive tariffs in the US/China trade dispute and a probable rise in long-term real interest rates was about to put the brakes on the global economy. That hasn’t panned out in the intervening period, even though the world's two largest economies have exchanged tariffs amounting to $372bn (£281bn) in reciprocal goods trade.

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