China’s slowdown could have spillover effects on overall upbeat US prospects

US Treasury Secretary Janet Yellen crossed wires, via Reuters, late Monday while citing the risks to the global economic developments from China’s slowdown, the Russia-Ukraine war and climate change-related disasters and their spillover effects.

The policymaker hesitated to comment directly on China’s looming debt woes due to the largest private realtor Country Garden’s delay in payment on a private onshore bond and its contagion effect.

“She said China’s slowdown could have spillover effects on the United States, but would have the biggest impact on its Asian neighbors,” said Reuters.

The news also cites US Treasury Secretary Yellen as feeling very good about the overall US prospects while also flagging the recession risk and showing conviction about the US growth remained healthy and the job market was very strong.

Also read: Forex Today: US Dollar remains firm on the back of higher US Treasury yields