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https://www.wsj.com/articles/china-holds-fire-in-latest-trade-skirmish-with-u-s-11557571638

At this time last year, the global economy was experiencing strong, widespread growth, with even the long-stagnant European Union staging a robust recovery. But with key indicators of trade and investment now weakening, a new crisis – not least a global trade war – could quickly bring the global upturn to a halt.