download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewChina is taking steps to support its economy and stock markets, but there are limits to what can be achieved, said economist Eswar Prasad. Stock markets in China and Hong Kong have accelerated losses into 2024 after shedding trillions of dollars since 2021. "The likelihood of the prediction that China's GDP will one day overtake that of the US is declining," Prasad added to Nikkei. This is because Trump is likely to ratchet up trade protectionism, causing fragmentation in the trade and financial sectors, Prasad told Nikkei.

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Persons: —, Eswar Prasad, Prasad, China hasn't, Trump, Prasad doesn't, Donald Trump Organizations: Service, Cornell University, International Monetary Fund, Nikkei, Business, Stock, Reuters Locations: China, Hong Kong, Beijing, Asia