With the world already reeling from the economic impact of the coronavirus pandemic, a reignition in U.S.-China trade tensions would be the 'the last thing' anyone needs, according to JPMorgan Asset Management's Alexander Treves.
pandemic, a reignition in U.S.-China trade tensions would be the "the last thing" anyone needs, according to JPMorgan Asset Management's Alexander Treves.China's exports besting expectations in April"This means that economies are maybe working better than one might have thought, but the other thing which immediately came to me is I would like to see what the trade surplus number with the U.S.
That comes as the rhetoric between Washington and Beijing has been dialed up in recent days, with U.S. Secretary of State Mike Pompeo going as far as to say that there was "a significant amount of evidence" suggesting that the virus emerged from a state laboratory in Wuhan, China where cases were first reported.
Moe, who is co-head of Asia macro research and chief Asia Pacific equity strategist, said an indicator measuring the market's pricing of U.S.-China specific trade risk has "slipped a bit" in the past week or so. This shows that the market, underneath the surface, is "beginning to price in some concerns about U.S.-China friction" over issues such as trade or potential retaliatory efforts over the coronavirus, he said.
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