China Risks, Unlike Mexico Tariffs, Aren’t Vanishing
The negative attitude toward Chinese assets continues. Plus, book club news, value investors’ dilemma and frontier markets.
The pressure is still on.
Photographer: Tomohiro Ohsumi/Bloomberg
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Yesterday, I suggested that the cancellation of tariffs on Mexico was akin to the famous tabloid headline “World War Two Bomber Found on Moon Mysteriously Disappears”. There hadn’t been a bomber on the moon in the first place, so this wasn’t really news – and in the same way, I argued, the cancellation of the Mexican tariffs shouldn’t be taken as a big deal as they were never a credible threat in the first place.
I now have to make a correction. I got the bomber headline slightly wrong. My thanks to Deon Gouws for finding a copy of the Sunday Sport’s follow-up front page to its exclusive revelation that there was a bomber on the moon. Here it is: