Oil prices have hit their lowest in two weeks after Israel agreed to US President Donald Trump’s proposal for a ceasefire with Iran.
But business leaders at a key economic meeting in the northern Chinese port city of Tianjin find themselves troubled by the state of the global economy, and the prospect for meaningful growth.
The rapid escalation of the conflict between Iran and Israel – which has now pulled in the United States – temporarily replaced trade, tariffs and inflation at the top of a long list of concerns with far-reaching consequences.
The World Economic Forum, WEF, says this is the most complex geopolitical and geo-economic backdrop seen in decades.
WEF has long been a symbol of the merits of free trade and a globalised world.
But Trump’s tariff wars have upended supply chains and the ability of businesses to plan for the future.
English (US) ·