The technology trends to benefit from in emerging markets

Trade war shows 'no signs of abating'

Over the past months, emerging markets experienced an increasing risk-off period, taking a hit from the "alignment of the stars" - a combination of rising US interest rates, dollar appreciation and major political tensions pitting the United States against China, Russia and Turkey.

The trade war engineered by the White House for the past several months shows no signs of abating and its impact on growth is already being felt in Asia, where PMI surveys - particularly New Exports indices - showed declines. The US is maintaining its antagonistic mercantilist line, increasingly erecting tariff barriers to bilateral trade. And given that neither Washington nor Beijing has made the slightest gesture in the direction of de-escalation, it would be rather foolhardy at this stage to forecast any real improvement in Sino-American relations. The tariff issue has in fact mask...