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China has a lot more to lose than the US in trade war, says Credit Suisse
The possibility that the United States and China are closer to resolving their trade dispute has stoked optimism among investors. But insufficient attention may be being paid to what happens if no deal is struck, according to John Woods, Credit Suisse’s chief investment officer for Asia-Pacific. No deal would be “profoundly negative”. It would be the reverse of China joining the World Trade Organisation in 2001, which lowered or froze barriers the country faced to export its goods and paved the way for a near tripling of its share of global trade, Woods said. “It’s quite clear to me that China has a lot ... (full story)