Investment research firm TS Lombard feels China is holding a strong set of cards, publishing “Trade War: Why China Won’t Surrender” on August 2. TS Lombard’s China Watch team feels that “the impact of Trump’s trade war on [China’s economic] growth will be manageable”, with Beijing having “rolled out a series of limited measures to sustain domestic growth” and with its currency policy aimed partly at “offsetting the impact of US tariffs on [Chinese] exporters”. Indeed, If Trump imposes additional tariffs on US$200 billion of imports from China, then “further yuan depreciation is likely”, TS Lombard feels.
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