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China senior diplomat Wang Yi has crossed the wires and said that China will not and cannot become another America.

Market implications

There was no reaction the market to this but the US-China tension is simmering.

“The US’s Kudlow said the US has issues with China but a trade deal is not dead. Some White House advisors have reportedly proposed interfering in the Hong Kong dollar peg to punish China. This drew chatter overnight, but was generally regarded as unrealistic,” analysts at ANZ Bank explained.