TOKYO -- There is one fundamental cause behind the turmoil that has been shaking global markets since the beginning of the month: China. As growth in Asia's largest economy slows, the rest of the world finds itself in the throes of its first China-induced economic downturn.
And investors fear that matters will only worsen, judging by the swipes China and the U.S. are taking at each other in their trade war. These include: U.S. President Donald Trump's announcement of more retaliatory tariffs to be levied against China in September, the Chinese yuan being allowed to weaken into the 7 per dollar range, and Washington naming China a currency manipulator.
