Trade wars pose 'worrisome' threat to world economy: BoE's Kohn

Trade wars pose 'worrisome' threat to world economy: BoE's Kohn
FILE PHOTO: Commuters walk past the Bank of England in the City of London, Britain, February 7, 2019. REUTERS/Hannah McKay -
Hannah Mckay(Reuters)
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LONDON (Reuters) – The escalation of trade conflict between the United States and China is “very worrisome” for the global outlook and it remains to be seen if it will tip the world economy into recession, Bank of England policymaker Donald Kohn said on Tuesday.

“Whether that is strong enough to put the whole world into recession or not, who knows, but it’s bad,” said Kohn, a former vice chairman of the Federal Reserve System.

“There are several dimensions in which I think this breaking, this beginning of fragmentation of the global trading system is very worrisome,” he told a panel of British lawmakers.

(Reporting by David Milliken and Huw Jones, additional reporting by Estelle Shirbon, writing by Andy Bruce)

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