US–China trade war concerns
In the previous part of this series, we discussed the trade war tension between the US and China and how it has been intensifying. US President Donald Trump is further escalating the tension by planning to put restrictions on Chinese investment in the US technology sector (XLK).
Byron Wien’s latest view on US–China trading
Legendary investor and the vice chairman of Blackstone private wealth solutions Byron Wien said in an interview with CNBC on Tuesday that Trump is right on his tough trade stance with China. Although investors and market participants are more worried about the rising trade conflict and its impact on the equity market, Wien is confident about Trump’s approach to China (FXI).
China has had unfair trade practices with the US, he believes, and some issues might signal that China has done some intellectual property theft from various US businesses. Trump’s latest trade decision aims to safeguard to the US technology sector.
According to Wien, Trump shouldn’t pull out from NAFTA or enter into trade conflicts with Europe. He believes the US (SPY) must maintain a good trade relationship with Europe.
In the next part of this series, we’ll see Wien’s view on the S&P 500 Index.