“I think the U.S. is going to have to do some catching up,” said Johnson of Franklin Templeton at HSBC’s event on Thursday. “There’s a lot to be done in the U.S. in terms of getting its house in order, in terms of infrastructure, in terms of regulation, in terms of policy.”
HSBC’s Neumann said the U.S. has “structural issues that are going to take a while to resolve,” pointing to the country’s “over-reliance” on consumption and the need for more investment in productivity and innovation.
Still, some are optimistic about the U.S. in the longer term. “I think the U.S. is still the leader in terms of innovation,” said Clara Chan of the Hong Kong Investment Corporation. “The key question is how the U.S. government can work with the private sector to use that innovation to drive growth and create value.”
As for the short term, investors may want to look to China for growth opportunities. “The U.S. was the engine of growth for the world in the last two decades. I think we’re seeing a shift, and China will be the engine of growth for the next two decades,” said Li of China Asset Management.
For now, all eyes are on China and its potential to lead the global economy out of its current doldrums. The optimism surrounding the country’s economic recovery has certainly sparked interest among investors and analysts alike, with many eager to see what the future holds for the world’s second-largest economy.
Pada hari Senin, Presiden AS menyarankan bahwa tarif mungkin tidak sekuat yang ditakuti. Beberapa hari kemudian, dia mengakhiri optimisme yang sedang tumbuh dengan memberlakukan pajak baru sebesar 25% pada impor mobil, dan tarif 25% lainnya pada negara mana pun yang mengimpor minyak dari Venezuela.
Investor sekarang menunggu tanggal 2 April, ketika pemerintahan Trump akan mengungkapkan serangkaian tarif baru secara berbasis negara.
“Globalisasi seperti yang kita kenal mungkin telah mencapai ujungnya,” kata ketua HSBC, Mark Tucker, pada Selasa ketika ia membuka konferensi banknya di Hong Kong. “Apa yang dulu bisa berkelanjutan, sekarang tidak lagi.”
Cerita ini awalnya ditampilkan di Fortune.com