Of all the world’s regions, Asia specifically “will be hit the hardest” by a Trump win, a Singapore-based investment banker told Nikkei Asia, because a tariff hike would disproportionately impact the region’s export-oriented economies, like China. The Japanese yen is seen as particularly vulnerable because of the gap in interest rates between the US and Japan. Investors see a Kamala Harris victory, by contrast, as a continuation of the status quo, and predict stocks will likely react positively, at least in the short-term. Many in China’s financial sector, however, favor Trump, according to an ING economist. Speaking to Chinese business clients, Trump “was seen as simpler in prioritizing economic and trade-related objectives, and may be less restrictive in other areas against China,” he said.
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