CHINA’S CIC SAYS TRADE WAR WILL HURT INVESTMENTS

PARIS: The president of China’s CIC sovereign wealth fund said on Wednesday that a trade war appeared unavoidable, and that the dispute would have a negative impact on CIC’s investments. “None of us is hoping for this trade war, (but) it seems to be unavoidable,” said China Investment Corp (CIC) President Tu Guangshao, who was speaking at a financial conference in Paris. China has accused the United States of bullying and warned it would hit back after President Donald Trump’s administration raised the stakes in their trade dispute, threatening 10% tariffs on US$200 billion (RM803 billion) of Chinese goods.– Reuters