The firm is now forecasting China GDP growth for 2025 to be at 4% (down from 4.5% previously) and for 2026 to be at 3.5% (down from 4% previously). Goldman already warned yesterday that they saw downside risks to their earlier forecasts as "an escalating tariff spat between two of the largest economies in the world also points to significant policy easing by Chinese government in the coming months to mitigate impact and stabilise growth".

Source: Forex Live