The principal challenge to business confidence has a name: Donald Trump.
If we look at why the U.S. waged a trade war and how China is fighting back, we can predict its future direction.
What the world needs is not more bilateral trade deals, but a true multilateral deal that opens up opportunities for all countries.
In today's topsy-turvy world, when the former champion of free trade - the U.S. - continues to impose or threaten a range of protectionist measures, it appears the center of rational gravity has shifted.
Trump’s mistakes will continue because his vision of trade is outdated.
While pressing China to adhere to the rules, the United States itself moved quickly to self-protectionism, contrary to international rules.
President Trump is falling into lockstep with the economic nationalism he promised: protection for domestic consumption, employment and training for local workers, and measures aimed at eliminating dependency on other regions.