23rd January 2017
President XI Jinping Steals the Show
This week the World Economic Forum in Davos provided some refreshingly original news.
While Trump and Brexit were still firmly on the agenda, one of the key events was the address by Chinese president Xi Jinping – the first by a Chinese leader at the summit. While a speech at the conference is a small fry in the grand scheme of things, the fact that he was championing the causes of free trade and climate change suggests China sees an opportunity to step up and assume the mantle of global leader. A wholly unexpected and monumental shift.
Elsewhere, away from the on going circus, the serious business of transitioning a government has been taking place in the US. Unlike the UK, the US senate needs to approve every head of department before they can take office – which gives a valuable insight into some of the new administrations priorities. Most candidates have admitted to disagreeing with their boss on at a least one key issue, which makes it even less clear which direction the country will head in.
Follow the link to read this weeks full market commentary below.