Shanghai Mayor Ying Yong and Tesla CEO Elon Musk pose for pictures after the signing of a preliminary agreement with the Shanghai government to build a Tesla factory there, on July 17. FDI from the US to China is on the rise despite the trade war, demonstrating both China’s interest in lowering hurdles for foreign companies and investors, and outsiders’ interest in putting their money in China, even if it means circumventing US tariffs. Photo: Shanghai Municipal People's government
Aidan Yao
Opinion

Opinion

Macroscope by Aidan Yao

Retaliate, reform, liberalise: the three ways China will respond to new US tariffs

Aidan Yao says it is only natural that Beijing would strike back should Washington impose its next round of threatened tariffs, but it can also be expected to proceed with domestic reforms and a further opening of its market to outside investors, which may ultimately be to its benefit

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Shanghai Mayor Ying Yong and Tesla CEO Elon Musk pose for pictures after the signing of a preliminary agreement with the Shanghai government to build a Tesla factory there, on July 17. FDI from the US to China is on the rise despite the trade war, demonstrating both China’s interest in lowering hurdles for foreign companies and investors, and outsiders’ interest in putting their money in China, even if it means circumventing US tariffs. Photo: Shanghai Municipal People's government
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Aidan Yao

Aidan Yao

Aidan Yao is senior emerging Asia economist at AXA Investment Managers. Prior to joining AXA IM, he was a senior financial market analyst at the Hong Kong Monetary Authority for two years. He started his career at the Reserve Bank of New Zealand in 2007, serving as an economist and later senior financial market analyst until late 2011. He holds a master degree in finance (2006) and a bachelor degree in economics and finance (2005) from the University of Otago (NZ). He is also a chartered financial analyst.