Mexican Media Brands
VW Cites “Scary” Effects of Prolonged Trade War
Volkswagen Group CEO Herbert Diess tells Bloomberg TV that trade issues have pushed an otherwise healthy car market in China into a “scary” recessionary slump.
#economics
Share
Volkswagen Group CEO Herbert Diess tells Bloomberg TV that worries about trade issues have pushed an otherwise healthy car market in China into a “scary” recessionary slump.
Diess (pictured) blames the U.S.-China trade war for eroding confidence among Chinese consumers, thereby cooling demand.
The International Monetary Fund says the same worries are hurting major markets everywhere. An IMF analysis shows that concerns about global trade are nearly 10 times as great as any previous peak within the past several decades, Bloomberg News says.
The fund estimates that the resulting consumer caution could depress spending and reduce global economic growth by 0.75 of one percentage point.
RELATED CONTENT
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.