Affin Hwang Capital chief economist Alan Tan said they saw a 30% probability of a global recession in 2020, based on the assumption that US-China trade tensions will escalate in the coming months.
If a digital Iron Curtain is falling between the US and China, America seems increasingly eager to yank its side down. A hasty and excessive response, however, runs the risk of undermining its own technological advantage.
The most visible assault is the one the US has launched against Huawei Technologies, the world’s leading telecommunications equipment business. American officials have pressured Western allies to ban Huawei technology from forthcoming 5G wireless networks, which will connect everything from mobile phones to autonomous cars.
