Business

Growing US-China tensions threaten world economy, Turnbull says

Prime minister warns that clash between populism and capitalism could undermine stability of free trade system

The prime minister, Malcolm Turnbull, has warned that rising tensions between an increasingly assertive China and populist United States pose a threat to the global economy and stability.

Turnbull urged governments in a speech in Perth to defend the free trade and rules-based economic system that had served the world so well, saying it faced its greatest threat since the second world war.

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