Businesses trying to navigate increasing Sino-US trade tensions should look to China for an indication of what to do next, according to Eurasia Group president and founder Ian Bremmer.
The long-term effects of seesawing trade developments and their impact on business were a key topic at ANZ’s 2019 Finance and Treasury Forum in Singapore.
Speaking to ANZ Institutional, Bremmer said it was ultimately China and its leadership which has made more of an impact on markets than President Donald Trump and the US.
"It’s overwhelmingly Xi Jinping, which means you need to pay a lot more attention to China," Bremmer said, calling China's movements "profoundly consequential".
"Yet if we look at most portfolio investors around the world they consider the decisions being made by Washington as [being] more consequential."
Speaking on stage in front of more than 200 ANZ clients and guests, former Singaporean diplomat and UN Security Council president Kishore Mahbubani said for 1800 of the past 2000 years China and India were the two largest global economies.
“It’s going to make the 21st century very difficult to understand if you use the 19th and 20th century lenses,” he said.