U.S.-China Trade War Still Biggest Global Risk, NAB's Oster Says
- About one-in-five chance of trade battle, says chief economist
- Looming U.S. midterm elections may prompt Trump to take action
Inside Trump's Agenda in China
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Trade tensions between the U.S. and China pose a greater worry to the global economy than a nuclear North Korea, said National Australia Bank Ltd. chief economist Alan Oster.
The probability that the world’s two largest economies enter into a destructive trade war is around one-in-five, Oster said in an interview in Singapore. It’s the biggest risk to global growth that’s otherwise chugging along at a decent rate and should rise to 3.6 percent in 2018 from 3.4 percent this year, he said.