October 2018 Market Update

“The era of engagement is over. The world’s two superpowers have become rivals” – Donald Tusk, President of the European Council

Until now the USapproach to China has been based on engagement – believing that integrating China into world trade and international bodies would make it wealthier, as well as more liberal and democratic. But after 25 years of engagement this approach has changed to see China as a strategic rival – who breaks rules and does not play fair (think IP theft and cyber violations) …