By Stuart Burns
Despite a somewhat chaotic year, with markets buffeted by trade wars and geopolitical risks, the global economy has continued to expand (albeit at a slower pace than previously).
The market's reaction to media coverage of trade wars has no doubt been a factor in depressing share price performance and, more importantly, in postponing investments that would otherwise have stimulated more significant growth.
Economic growth in some regions has undoubtedly been hit by the knock-on effects of the trade war. China has arguably been hit the hardest, but the drop in