Rising trade disputes and U.S.-China strategic tensions are increasingly weighing on global risk assets. How are the frictions playing out on the ground in China? A group of our senior investors recently went on a trip to the mainland to take the pulse on corporate sentiment and potential impacts on global manufacturing supply chains.
Chart of the week
China Growth GPS vs. composite PMI, 2015-2019
Sources: BlackRock Investment Institute and Markit, May 2019. Notes: The China GPS and nowcast are BlackRock estimates of where the Caixin composite PMI, compiled by Markit, may stand in three