Trade wars

Turkey's currency hit another record low against the dollar on the morning of May 3 after official data showed inflation rose higher than expected in April. 

German business confidence has fallen amid growing concerns about international risks like the possibility of a trade war with the United States.

Turkey’s economy minister on Dec. 25 suggested conducting trade with Sudan using domestic currencies as a way to boost bilateral commerce.

The U.S. administration should blame itself rather than Germany for a recent strengthening of the dollar against the euro, the head of Germany's Bundesbank said on Feb. 7.

Jens Weidmann said comments by a top trade adviser of U.S. President Donald Trump that Germany was exploiting the United States and its European partners with an overly weak euro were "more than absurd." 

China said on Feb. 3 it has never used its currency as a tool to gain an advantage in trade and was not seeking a "currency war",  after U.S. President Donald Trump criticized Beijing for harming American companies and consumers with a devaluation of its yuan. 

China's imports grew at the fastest pace in more than two years in November, fueled by its strong thirst for commodities from coal to iron ore, while exports also rose unexpectedly, reflecting a pick-up in both domestic and global demand.

China's slowing economy is a cause for major concern around the world. As one of the most prominent China experts on the economy, Michael Pettis argues that China will inevitably undergo a very difficult adjustment as it reverses the imbalances generated over the past three decades.

China's foreign exchange reserves fell $28.75 billion in February, slightly less than expected and easing from a sharp slump in January, suggesting the Central Bank is scaling back its interventions to support the yuan as capital outflows ease. 

The new government has submitted the temporary budget to parliament. It is also making the last preparations on the reforms. Statements are expected in a couple of days. 

British finance minister George Osborne expressed his confidence in the slowing Chinese economy on Sept.20, saying the country was going through a necessary transformation and was still a driver of global growth.