- China's government is ready to respond if the potential negative impact of trade friction causes an economic slowdown
- The US appears to be asking for a roll back of the China 2025 program but this is part of their national ambition to be an advanced country in certain areas by 2025
- Market confidence is the lowest in 4 years. This is due to:
1. Trade issue; and
2. Government's efforts to address the shadow banking system
The Chinese government is ready to respond. They are extremely pragmatic and will be data dependent. If they see further deceleration, then we would expect further stimulus and easing as well.
Head of Emerging Markets and Asia-Pacific Equities,
Geoffrey Wong is Head of Emerging Markets and Asia-Pacific Equities with overallresponsibility for all Emerging Markets, Asian, Japanese and Australian equityteams, strategies and research. Geoffrey is also responsible for research,portfolio management and construction for Emerging Market Strategies.
He chairs the Emerging Markets Equity Strategy Committee and is based in Singapore.
Geoffrey joined UBS in 1997. His prior experience includes co-founding an Asianinvestment management firm, where he served as Director of Investment Management responsible for asset allocation and stock selection for global and regional institutional portfolios.
Geoffrey served on the board of directors of Singapore Exchange, the combined stock and futures exchange of Singapore between 2003 and 2006. He is a member of the Singapore Society of Financial Analysts and a Fellow of the Institute of Banking and Finance.
Our EM fixed income argues that #tradewars have to subside as returns are dependent on global factors. More
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