IMF Slashes China Growth Forecasts As Trade War Deepens

Source: International Business Times

China and the United States -- the world's two largest economies -- are engaged in a mounting tit-for-tat trade row that has sparked global recession fears and rattled markets AFP The IMF said Tuesday it now believed China's economy will only grow by four percent this year, well below Beijing's official target as it fights a mounting trade war with the United States that threatens to hammer the global economy. China and the United States -- the world's two largest economies -- are engaged in a mounting tit-for-tat trade row that has sparked global recession fears and rattled markets. China faces tariffs of up to 145 percent on many products, with others receiving even higher levies.