A tit-for-tat trade standoff between the U.S. and China has fueled market fears that the dispute could soon spiral into a full-blown trade war. Washington and Beijing have been embroiled in escalating tariff threats since early March — with market participants concerned about the potential impact of an ensuing trade war.
“The signal must be there is a new order emerging, and how that new order emerges will depend upon the wisdom, the patience and the understanding of the top leaders,” Andrew Sheng, chief advisor at China’s Banking Regulatory Commission, told CNBC’s Steve Sedgwick on the sidelines of the European House Ambrosetti Forum in Italy Friday.
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