China, the second largest economy, is slowing below the government’s growth target, and this is likely to lead to a drag on the global recovery, giving credence to the trending metaphor – when China sneezes the rest of the world catches a cold. Of course, that used to be said of the U.S.
The Russia-Ukraine conflict, which started early this year, has added a new dimension of uncertainty to global economic prospects, although to date contagion effects have been limited to those countries with direct trade and financial links to the Eastern European region. For Trinidad and Tobago, this is a double-edged sword.