News

Friction between Trump and China “likely”

Donald_Trump_press_conferenceThe Trump administration appears to be preparing tariffs or other punitive measures on Chinese imports to the US, according to a leading economist. Although Aidan Yao, an economist at Axa Investment Managers, says “an all-out trade war is a low-probability event”, these “greater trade frictions are looking increasingly likely” and will be detrimental to both parties. “Recent rhetoric from the US has turned more hawkish relating to imminent 'punishments' of Trump on China’s 'unfair' trade practices,” said a statement by Yao, who refers to speculation that possible punitive measures will be announced at Trump's State of the Union Address on January 30. China's State Administration of Foreign Exchange has denied rumours it would respond to tariffs by selling or cutting purchases of US government bonds. However, Yao speculates that the rumours were themselves spread by the Chinese authorities as a reminder of China's power to affect the cost of US borrowing. “If Trump does introduce something quite damaging (for China, but also the US, economy), China has promised to retaliate,” said Yao. ©2018 funds global asia

Executive Interviews

INTERVIEW: Operational challenges

Jun 09, 2018

Caroline Higgins of Northern Trust tells George Mitton about A-share inclusion, ETF Connect and why Cayman funds predominate in the region.

INTERVIEW: Making a name

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Formed by a merger in 2012, Old Mutual Global Investors was little-known in Asia. Carol Wong, managing director for Asia-Pacific, is changing that. She talks to George Mitton.

Roundtables

SINGAPORE ROUNDTABLE: Optimism versus caution

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The impact of financial technology, developments in Asian passporting and the promise of new markets in Thailand were among the topics discussed by our panel. Chaired by George Mitton in Singapore.

HONG KONG ROUNDTABLE: a long-term project

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Our panel discussed robo-advisers, ETF Connect, and why the mutual recognition of funds (MRF) scheme will take time to develop. Chaired by George Mitton in Hong Kong.