China's yuan hit an 11-year low in onshore trade and tumbled to a record low in offshore trade after a sharp re-escalation
in the U.S.-China trade war whacked investor confidence and darkened the global economic outlook, APA reports citing Investing.
The Sub-Committee noted that in Mainland China, growth outlook was clouded by re-escalation
of trade tensions with the US.
The analyst believes the bounce back is a positive for Apple and a "solid start" toward above-seasonal guidance for Q3, particularly against a backdrop of a slowing Chinese economy coupled with the re-escalation
of trade tensions with the U.S.
"With the latest re-escalation
of US-China trade frictions further clouding the external outlook and disappointing wage developments reinforcing the vulnerability of the consumer outlook, we continue to expect the economy to expand only modestly in 2019 and 2020."
in tensions between the world's largest economies has raised worries about a global recession.
Analysts say the headwinds are mostly external: a re-escalation
of the US-China trade war and a rebalancing of portfolios to reflect the higher weighting of mainland China shares in the MSCI Index and rising oil prices.
of global trade tensions and earlier policy support" will contribute to the moderate growth of below five percent.
Heightened policy uncertainty, including a recent re-escalation
of trade tensions between major economies, has been accompanied by a deceleration in global investment and a decline in confidence."
The domestic risks to the outlook for South Asian growth include re-escalation
of political turbulence amid elections in Afghanistan and Sri Lanka; fiscal slippages with expanding public spending; and a resurgence of non-bank financial sector funding issues, the bank warns.
"If there is an additional terrorist attack without Pakistan having made a sustained sincere effort against these groups, it will be extremely problematic for Pakistan and it would cause a re-escalation
in tensions," the official, who briefed reporters on condition of anonymity.The official's comments underscored the Trump administration's view that Pakistan's harbouring of extremist groups lies at the heart of the latest upsurge in tensions.
Local manufacturing will also keep the company immune from the vagaries of any re-escalation
of trade tensions between the U.S.