It is clear the global economy is beginning to suffer from the ongoing trade war between the two largest economies: the U.S. and China.

Things worsened between the two nations over the last two weeks.

The White House floated the idea of implementing an additional 10% in tariffs on $300 billion worth of China's goods.
China devalued the Yuan against the U.S. dollar.
The U.S. officially labeled China a currency manipulator.
The White House floated the idea of ending trade negotiations with China completely.
If things continue to worsen, we can expect central banks to start getting involved directly in the markets.

Specifically, I mean massive currency interventions happening on a near weekly basis…

Central banks will routinely intervene in the currency markets to support their own currencies. What's more, central banks can be used to hurt other countries' currencies.