Asian businesses pessimistic amid U.S.-China trade war

Resolution to trade conflict still not in sight: survey

Bangkok skyline (photo by Trisorn Triboon)

Bangkok skyline (photo by Trisorn Triboon) (By Wikimedia Commons)

TAIPEI (Taiwan News) - Asian businesses were still the most pessimistic in three years about economic prospects as the trade war between the United States and China was still nowhere near its resolution, reports said Wednesday.

A survey by Thomson Reuters and INSEAD Business School found that business sentiment in the first quarter looking at the next six months was flat, the Liberty Times reported.

Last September, the survey registered a near three-year low of 58 points, which only rose marginally to 63 during the final quarter of 2018 to remain there in early 2019.

Companies were putting off investment decisions due to uncertainty about the likelihood of a U.S.-China trade deal in the near future, Reuters reported. There was caution, even though Asian enterprises were not expecting “an imminent global recession,” according to the news agency.