Markets may have 'priced in' the de-escalation of the U.S.-China trade war as the phase one deal looks set to soften risks related to global growth, but one unpredictable factor remains: technological restrictions the U.S. may impose on China going forward.
supposedly a game changer for the global economy judging by the stock market's rise to a record"It looks like on the tariff side, the phase one deal has taken some risk of escalation off the table for 2020. Markets have priced that in clearly," said Roache.
"It's this other aspect of the relationship, that's more to do with technology, non-tariff measures where it's much more complicated. The risks of escalation is much higher and actually it's where we think the long term impact is much greater," he added. Chinese tech has been caught in the crosshairs of the U.S. government as tech behemoth Huawei becomes a bargaining chip in the trade war. Huawei's CFO is still detained in Canada at Washington's request for violating U.S. sanctions on Iran.
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