, 5 tweets, 3 min read Read on Twitter
Good @Neil_Irwin column on the current, somewhat synchronized, global slowdown -- and the signal global bond markets are now sending.


@Neil_Irwin Some of this is the fall out from the Sino-American trade war, but not all. I have trouble linking the trade war directly to Europe's slowdown (Europe should benefit from trade diversion even as it is hurt by the impact of trade uncertainty on investment)

@Neil_Irwin A couple of signals that I think are important --

U.S. (non-petrol) exports are falling fast -- and that isn't just a function of the trade war.

Some of that is dollar strength, but it reflects the global slowdown
@Neil_Irwin And China remains weak. The IMF is happy that China didn't overstimulate in response to the trade tension (also see @Birdyword). But right now China is -- through falling imports of manufactures -- providing a negative impulse to global growth.

@Neil_Irwin @Birdyword I won't repeat my arguments in this blog -- but the slowdown in China's imports isn't simply a direct function of the trade war with the US (China doesn't import that many manufactures) from the US. Nor is it just lower chip prices.


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