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Trade War Between China And The United States And Three Black Swan, Global Economy Risk Assets
Mar 26, 2018

Overnight, the global economic situation changed greatly, and the trade war between the United States and China was on the spot.


On the morning of March 23rd in Beijing, President Trump signed the presidential memorandum. He announced that he would take measures to impose tariffs on Chinese products, restrict investment in China, and appeal the related issues to the WTO dispute settlement mechanism. According to the report, the value of the product is up to $60 billion.


China government quickly to take retaliatory measures, the Ministry of Commerce said in the morning, the United States intends to $3 billion in tariffs.


The abrupt escalation of the "trade war" weighed heavily on the volatile global stock market. The three major U.S. stock indexes fell more than 2.4%, the biggest one-day decline in a six week. In the original, the increase in interest rate is expected to increase the impact of liquidity tightening has been one of the U.S. stocks this year. Now, the warming trade war has again given more uncertainty to risk assets, such as the global stock market. Similarly, China's stock market, stock market and foreign exchange market fell sharply, and the stock index opened 2.78% down, the risk asset debt market rose and the 10 year treasury bond increased 0.65%.


A trade war and a lump in my throat, interest rates, Facebook burst data leaks, Tencent stock sell-off, the recent global stock market constantly bad. The collapse of the global risk assets exploded by trade war is just the beginning, or Trump's "aggressive" attitude. It is only for increasing the bargaining chip of China and America, the market wait-and-see sentiment is thick.


Risk assets plummeted and hedging assets rose


"Trump is reading newspapers in the US. The headlines of the newspaper read that this spring came earlier and everyone was very happy. Trump was wondering, how do I want to stir up the yellow spring?" This is a cartoon circulated in March 23rd WeChat in the circle of friends, innuendo Trump pick something to the world, to provoke a trade war between China and the United states.