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The Editor-in-chief of Chinese and English editions of the Global Times, Hu Xijin’s, tweeted out last minutes, expressing his take on the US economic outlook.

He tweeted: “US economy is not as promising as the White House brags. With no huge untapped potential, no major science/tech innovation in recent years. Its exuberance has been built on fragile balance of financial game, but it still launched a trade war. More terrible consequences will come.”

Markets mood is already tempered by the US recession fears and his warning only aggravates the scare on the US growth prospects, especially in the face of the ongoing US-China trade war.

USD/JPY treads water just ahead of the 107 handle, as the bears are seen fighting for control amid a sell-off in the Asian stocks and falling Treasury yields.