Taiwan war would cut global GDP by 10%

A US-China clash over the self-ruled island would cost the world some $10trn, the business news outlet estimates If the US and China were to have a military showdown over the island of Taiwan, the global GDP would plummet 10.2% in one year, or roughly $10 trillion, Bloomberg’s modeling predicts. The business news agency says the silver lining is that all parties involved have the incentive to avoid a conflict. Taiwan is a self-governed Chinese island that was the last refuge of nationalist forces during the civil war which ended in 1949. It has a security arrangement with the US, which has pledged to defend it, sh

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