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August 7, 2019

Heightened US-China financial war imperils global economy

By By PAUL WISEMAN and MARTIN CRUTSINGER
AP Economics Writers

WASHINGTON — Just what the fragile global economy didn't need: An unpredictable escalation in the trade war between the United States and China, one that spreads the conflict to currency markets, threatens to involve other countries and raises the risk of a global recession.

At a time when growth in the United States and the world is already weakening and President Donald Trump has said he'll impose new taxes on hundreds of billions of dollars of Chinese imports, Beijing is halting purchases of U.S. farm goods and the two sides are trading punches over the value of the U.S. dollar against the Chinese yuan.


 
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