Charles Dumas and Rory Green assess the decline in trade volumes. They support a long-running theme, specifically that trade war is shifting supply chains and accelerating the world splitting into trade blocs.
Chinese Q1 GDP was the weakest in decades on the offical reading. The TS Lombard recalculation shows it to be even weaker at 5.2% yoy. Rory Green writes:
We have a 30 year track record of successful calls. Many of these calls combined economic, political and market analysis.READ MORE