Observers expressed concern about Trump’s proposed taxes, which he claimed would have a special focus on China, causing speculation about a new trade war between the economic powers.
Beijing may have been interested in this, according to Pepperstone Group’s head of research, Chris Weston.
Some people believe that China may react to the Trump-China tariff negotiations with more targeted responses to plant the likely economic fallout, he wrote.
” In the short-term, however, it does suggest upside risk to China/HK capital and the renminbi”.
However, bitcoins continued to push to fresh highs, hitting a record US$ 81, 891 on Monday on enthusiasm that Trump did relieve regulations surrounding the crypto.
” We should n’t anticipate this upward trend to be halted for a long time, roughly a year.” The next level for me is US$ 100, 000″, Stephane Ifrah, of European crypto property management firm Coinhouse, told AFP.
However, Bank J. Safra Sarasin researchers offered a generally positive outlook for the coming year.
In a statement, they stated that” 2024 will have stronger economic growth, more healthy labor industry, and lower inflationary pressure than we anticipated.” In particular, the US market was more adaptable and is still headed for a smooth landing”.
” Yet President-elect Donald Trump’s policy ideas could lead to heightened economic uncertainty. A business war had hurt growth and cause prices to rise, but deregulation and tax cuts would increase minimum growth.