Trade tensions between the United States and China have escalated over the past week, dominating the headlines and movements in financial markets.
The US has already introduced tariffs on $US34 billion worth of Chinese imports, with another $US16 billion on the way. In response, China has introduced reciprocal tariffs on US imports entering the country. And, as warned by the US should the Chinese retaliate, it’s now considering an additional $US200 billion in Chinese imports that could be hit with tariffs.
It’s a trade war.
Will the situation be resolved or will it get worse? What will it mean for the global economy should it escalate further?
The short answer to both questions is nobody truly knows, leaving only room for speculation about what the impact may be.
To help piece it all together, we’re joined on this week’s Devils and Details podcast by Eleanor Creagh, market strategist at Saxo Capital Markets in Australia.
Eleanor talks through the shifts in Chinese demographics that are likely to drive consumption and investment patterns in China in the decades ahead.
We conclude by talking about the Football World Cup semi finals, including how “it’s not coming home” this time, much to the heartbreak of Eleanor and Paul. David also reveals his inner geek by providing a shout-out to the more than 40 thousand Australians who were born in Croatia, and pledges to cheer for the Croats in the final.
We hope you enjoy the show.