As China closed down a U.S. consulate in Chengdu last week, everyone is watching rising geopolitical tensions between the world’s two largest economies.
Steve Hanke, professor of applied economics at Johns Hopkins University, said that relations between the U.S. and China are not going to improve in the short-term.
“Things are not about to get better between China and the U.S. any time soon. I don’t see any clever diplomats working the street that could calm that down, so we can expect some bad news events leading to significant market corrections even though we’re in an up market in equities,” Hanke said.
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