Seeds of next global financial crisis being sown

14 October 2018

Rising US interest rates, tanking emerging market currencies and a bitter US-China trade spat could push the world towards its next financial crisis but there is still time to avert disaster, global finance chiefs have said.

The world economy is still growing but faces an “unprecedented” combination of threats, the International Monetary Fund cautioned at an annual meeting with the World Bank in Bali this week.

Among them is growing protectionism championed by the Trump administration and the intensifying trade-and-currency battle between Washington and Beijing, which have imposed tit-for-tat tariffs on billions of dollars worth of goods.

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