Chinese industrial profits for October contracted by 9.9% annualized, this marked the worst contraction on record. Chinese data is not the only one suggesting more trade-related issues. South Korean exports in the first twenty days in November slumped by 9.6%, this suggests that the holiday shopping season may come in below expectations. South Korea exports key high-technology items globally and is often viewed as a health barometer for the global economy. The Chinese economy is expected to cool further in 2020 as the Indian economy is predicted to take the leadership position.