Turmoil and trade wars dominate China's 'summer Davos'

At China's 'Summer Davos' in Tianjin, business leaders express concerns about global economy amidst geopolitical tensions. Spiraling conflicts between Iran, Israel, and the US overshadow issues of trade, tariffs, and inflation, leading to worries about lower growth in the coming decade. The threat of Iran closing the critical Strait of Hormuz impacts China's oil-dependent industries, highlighting vulnerabilities in the global economy due to geopolitical risks.