The United States and China may be approaching a tentative, partial trade agreement, but the IMF's new leader has warned trade defense will not be enough to boost global growth.
Another ongoing dispute may also be approaching a resolution, with the UK and the EU agreeing to a Brexit deal, although British MPs still need to approve it.
But the United States has confirmed that customs duties on European goods worth $ 7.5 billion will take effect on Friday, proving that geopolitical tensions are here to stay.  Hedge fund billionaire Ray Dalio, in today's conversation says the world economy is in a "big business" and the world has parallels to the 1
"This is the best we are going to have at this moment. The cycle is not going to continue forever," he said at the International Monetary Fund's annual meetings in Washington.
The founder of the world's largest hedge fund, Bridgewater Associates, said he did not see a market or financial crash on the horizon, but a "big cause."
He added that few central banks could do when it comes to monetary policy to stop the decline, as they had less leeway.
"Europe is in the limitation of this, Japan is (also), and the United States has not much to go for it."
He pointed out that the world's widening wealth gap and increasing power – China – challenging a sitting power, the United States, had similarities to the 1930s.
Dalio said more political coordination was needed, but feared that it could be difficult in a world characterized by rising geopolitical tensions and polarization.
After the Dow Jones Industrial Average
DJIA, + 0.09%
cut up 24 points on Thursday, Dow futures
YM00, + 0.08%
is down a bit, along with Nasdaq futures
NQ00, + 0.03%
and S&P 500 futures
ES00, + 0.09%
is down while Asian markets
fell on news China's GDP growth slowed to its slowest pace since first quarter 1992.
GBPUSD, + 0.0310%
has reached higher against the dollar after the UK and EU agreed on a Brexit deal.
China's economy grew by 6% in the third quarter, the slowest growth since the beginning of 1992. Growth cooled in all sectors despite some recovery in industrial production and retail at the end of the quarter.
Federal Reserve Deputy Richard Clarida will give a speech at the CFA Institute conference in Boston, the last major speech before the next Fed's interest rate decision.
A US-China trade agreement will not be enough to produce strong global growth, warned International Monetary Fund (IMF) new head Kristalina Georgieva on Thursday.
As one trade dispute appears to be cooling off, another is set to heat up as the United States confirmed that $ 7.5 billion worth of European goods, such as cheese and whiskey, will take effect on Friday.
French car manufacturer Renault cut full-year revenue guidance and lowered profitability forecasts, blaming Turkey and Argentina matches, sending the stock to 12%.
US President Donald Trump in Turkey attacking the Kurds – "Sometimes you have to fight them, like two kids in a lot. You have to fight them, and then pull them apart."
A 7-year-old made $ 22 million this year reviewing toys on YouTube.
Human Guinea pigs are preparing for the world's first 20-hour commercial flight
Halloween costumes will make 20,000 tons plastic waste in the UK this year, a study has found.