Reading the tea leaves: When, and how hard, will the next crisis strike?

A DECADE after the Global Financial Crisis of 2008, there is increasing consternation that the world is heading for another crisis.

There are enough reasons to worry.

The US-China trade tiff leads the list. The trade conflict between the world's two biggest economies has the potential to tip markets into a painful recession as early as the middle of next year. If the trade and currency wars were not bad enough, US President Donald Trump has now weaponised investments by targeting Chinese listings and assets. Adding to this are concerns about where the ongoing Hong Kong turmoil will lead. There was no let-up during last week's celebrations of the People's Republic of China's 70th anniversary. Fears remain high about an impending response by a resolute and resurgent China.