Investors need to position for a US-China clash of civilisations

A ‘great decoupling’ is under way between the incumbent superpower and its challenger. Financial markets welcomed last month’s truce in the long-running trade war between Washington and Beijing. But the “phase one” deal should fool no one. By parking core US complaints, including China’s weak intellectual property protection, forced technology transfer and pervasive state subsidies, the ceasefire … https://on.ft.com/3bbT3pp

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