Trade war costs China its stock market ranking
The trade war between the U.S. and China has had one major effect – losses in Chinese equities have taken their cumulative value down to $6.09 trillion, according to data compiled by Bloomberg, below the $6.17 trillion value of Japanese equities.
China’s stock market overtook Japan’s in 2014. The U.S. has the world’s most highly valued stock market, worth a little more than $31 trillion.
China and the U.S. have been engaged in a tit-for-tat trade war since the spring, and this is pressuring Chinese stocks as well as the country’s currency. Relatively, U.S. equities have been more resilient.
Source: https://www.foxbusiness.com
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