Rising prices of fuel and other inputs, along with fresh coronavirus outbreaks are slamming the brakes on the world's second-largest economy. In the second quarter, GDP growth in China dropped to its slowest pace since the start of the COVID-19 pandemic. Also, the world's largest economy isn't faring any better. Officials say US GDP contracted 1.6% in the first quarter. That's worse than earlier estimates and the International Monetary Fund says growth will remain stunted until 2025.

For more on global economic slump, Taha Arvas joined us from eastern Turkish city of Sanliurfa. He is an adjunct professor of finance at Bogazici University.

#ChinaEconomy #USEconomy #Recession