A heavy challenge.
The I.M.F is losing confidence in the world economies and cutting its forecast next year to a still unlikely 3%. This is 70% reliant on “sluggish emerging markets”, the future is “precarious” – weighed down by the self inflicted negatives of trade and technological tensions, disrupted global supply chains and a no deal Brexit. It pleads for collaboration to replace confrontation.
Well, there is precious little sign of the White House transforming its relations with China, North Korea, or Europe. And in the UK, Boris Johnson’s confirmation today as the next Prime Minister confronts Europe with a hard Brexit.
Hammond, the UK Chancellor and Hunt, the Foreign Secretary, will resign as had Anne Milton, the Education Secretary. The Financial Times wrote “No incoming leader has faced such a daunting challenge.”
We are moving into dangerous times. The Brexit deadline is the end of October.
Have a good day, James.