The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
The United States economy may have been one of the first in the world to have escaped the last recession, but economists are already trying to work out when the next one will hit – and the answer is: probably sooner than you think.
The overwhelming majority of mainstream economists predicts that the world's biggest economy should have at least another two years before it runs into six months of negative growth (the official definition of recession). After 2015, however, the date for the next recession could be any time between the end of 2015 to 2018, according to economists' forecasts.
These predictions are based on the assumption that the U.S. manages to avoid the possibility of defaulting on its debt repayments for the first time in its history – the prospect of which looms nearer every day as the government shutdown continues.
(Read more: Washington deadlocked)
The U.S. Treasury warned last week that a default could cause a "catastrophic effect on not just financial markets but also on job creation, consumer spending and economic growth".
If default is avoided – and markets seem fairly calm about the prospect – then the U.S. is still on track for a recession in 2016, with a 50 percent chance of recession then, according to a note published Monday from Charles Robertson, global chief economist at Renaissance Capital, the Russia-focused bank.
The U.S. economy last suffered a recession between the end of 2007 and June 2009, a downturn sparked by the global financial crisis.
"Ben Bernanke may be a remarkable man, but we are asking a bit much to assume he has abolished the business cycle and created the nirvana of never-ending growth," Robertson added.
Bernanke, in his capacity as Chairman of the U.S. Federal Reserve, has led an asset purchasing program which has kept U.S. borrowing costs relatively low by buying up government bonds. This has been credited with making the slowdown in growth less severe than it could have been.
However, consumer spending, usually a big driver of growth in the U.S., has not picked up in the way many economists forecast. In September, banks including JP Morgan and Barclays downgraded their forecasts for U.S. gross domestic product growth in the third quarter, after a worse-than-expected retail sales rise of 0.2 percent in August.
American consumers are facing inflation in the cost of services like medical care, and less job security. In August, consumer prices rose by 1.5 per cent annually.
Historical data show a recession in the U.S. on average every 6-7 years since 1947, and double-dips within eight years of big recessions like the Great Depression.
- By CNBC's Catherine Boyle. Twitter: .