A trade war between China and the United States is expected to push the world economy into a deeper recession.
The new data comes as Beijing and Washington are in talks over a massive trade pact.
Analysts say the trade war could push the global economy into recession and trigger an international crisis that could drag on for months.
“The global economic impact of the trade deal with the US could be severe, with potential economic repercussions for China and its neighbors,” Robert Hall, chief U.S. economist at Capital Economics, said in a note on Monday.
China, the world’s second-largest economy, has threatened to retaliate against U.N. sanctions on its economic activities if the trade agreement isn’t approved by the United Nations.
The trade agreement between the two nations would bring together the world in one single market and allow China to buy goods from almost 200 countries in the United.
China has repeatedly threatened to step up its economic pressure on the United, and U.K. Prime Minister Boris Johnson said on Monday that he will consider making a statement to the United Kingdom if the agreement isn`t approved.
Some economists say that the new trade agreement could help the U.B.T.S., or United Bank of the United South East Asia, deal with its own economic troubles.
It will open up Chinese companies to U.A.E. imports and make it easier for them to access U.F.O.s, according to a report in The Wall Street Journal.
In an effort to keep its economy on track, China’s economy is expected increase its spending in the next two years.
However, if the UF.o. deal is approved, the country’s economy will become a much bigger target.
While the trade pact is expected for approval by the UN.
General Assembly in New York, analysts say the United could retaliate with more tariffs.
U.S.-China trade war: What you need to know