US economy is not as promising as the White House brags, more terrible consequences to come – Global Times

The Editor-in-chief of Chinese and English editions of the Global Times, Hu Xijin’s, tweeted out last minutes, expressing his take on the US economic outlook.

He tweeted: “US economy is not as promising as the White House brags. With no huge untapped potential, no major science/tech innovation in recent years. Its exuberance has been built on fragile balance of financial game, but it still launched a trade war. More terrible consequences will come.”

Markets mood is already tempered by the US recession fears and his warning only aggravates the scare on the US growth prospects, especially in the face of the ongoing US-China trade war.

USD/JPY treads water just ahead of the 107 handle, as the bears are seen fighting for control amid a sell-off in the Asian stocks and falling Treasury yields.