The rivalry between the US and China looks set to dominate Asian affairs in the future and cannot be ignored by responsible investors. The escalation of tensions at the start of Donald Trump’s presidency led to an increase in trade barriers and impacted growth; now a temporary truce has been agreed but uncertainty remains, as do tariffs on Chinese exports to the US. The new bilateral agreement is a positive step, but investors should take a long-term view; the economic and strategic rivalry looks set to continue and some sectors are better placed than others to adapt to this landscape.
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