Fitch Ratings Inc. as one of the big three credit rating agencies declared that global tensions and cold war have caused the economy to be suppressed. Gross domestic product (GDP) in 20 superior world’s economies, developed or developing, had a bearish trend from the second half of 2018 until now!
Weak internal demand and real estate recession in china as well as the cold war between China and US affected the global economy. Output activities of China in August 2019 have reduced for the fourth consecutive month. PMI in August reduced to 49.5 while market participants expected PMI to remain firm in comparison with previous month.