I asked for their assessment of Trump’s potential impact on China trade, specifically in relation to cross-border trade settlement and the weaponisation of the Swift (the Society for Worldwide Interbank Financial Telecommunication) system. The participants chose to sidestep the question, but businesses do not have this luxury. This sleeper issue strikes at the heart of how global trade operates.
As surprising as it may seem, amidst all the noise and furore stirred up by US President Donald Trump over tariffs and China, quieter sleeper issues warrant closer scrutiny. These concerns often slip beneath the radar, even of well-informed China analysts.
Recently, I attended a forum on China markets presented by heads of China research from both a national and an international brokerage, alongside a strategist from one of China’s largest banks.
