There is a lot happening, but nothing stands out as being the number one item for the week. In one interesting piece of news, the world‘s largest hedge fund, Bridgewater, announced that it has sold all of its US-listed China assets over the second quarter. Which is a pretty definitive statement on its view with regard to China’s prospects, that is the economic and business prospects at least.
Another piece of news which caught our eye was the announcement by Li Ka-shing’s company, CK Hutchison, that the sale of a number of ports it is eager to get off its books will not go through until next year. At the heart of the port deal is the major geopolitical issue of the Panama Canal, which the CK Hutchison ports at either end effectively control. The Trumpist administration in Washington demanded that the ports be sold to a US company, and China strenuously objected. In the last few weeks, Panama added a new element to the discussion, saying they intended to take over the company themselves. But one way or another it’s now going to be delayed at least for another year, which means what? We guess that neither America nor China has won that particular battle yet.
And overshadowing everything is the upcoming meeting in Alaska between Trump and Putin, which is billed as an opportunity to find a solution to the Russia-Ukraine war. One awaits with trepidation the result of the meeting. Have a great weekend.