Markets News 

Mnuchin dismisses risk of contagion from China’s economic slowdown

“JERUSALEM (Reuters) – U.S. Treasury Secretary Steven Mnuchin dismissed concerns that China’s weakest economic growth since the global financial crisis could spill into other emerging markets and destabilize U.S. financial markets” writes Midwest Communications Inc for Asked whether the slowing economy in China underscored the need for talks, Mnuchin said: “No, the importance is that we are focused on having a more level playing field in our economic relationship with them.”. Plans for bilateral trade talks to resolve the dispute have stalled, triggering a domestic equities rout and putting pressure on China‚Äôs softening economy and weakening currency.”I am not concerned about that destabilizing our markets,” Mnuchin said in an interview with Reuters in Jerusalem at the start of a Middle East visit and after data on Friday showed a cooling U.S. economy.It marked the weakest year-on-year quarterly gross domestic product growth since the first quarter of 2009 at the height of the global financial crisis.

Related posts