U.S. Treasury Undersecretary Shambaugh Says Multilateral Development Bank Lending To China, Is Declining, But Not Fast Enough; Needs To Go To Zero 'Rapidly'
Portfolio Pulse from Benzinga Newsdesk
U.S. Treasury Undersecretary Shambaugh stated that lending to China from multilateral development banks is declining, but not at a fast enough pace. He emphasized that it needs to go to zero rapidly.
July 26, 2023 | 3:10 pm
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NEGATIVE IMPACT
The call for a rapid halt to lending to China could impact the iShares China Large-Cap ETF (FXI), which tracks large Chinese companies.
The halt in lending could potentially slow down the growth of large Chinese companies, which are tracked by FXI. This could lead to a decrease in the ETF's value.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) could also be indirectly affected due to its exposure to global markets, including China.
SPY, which tracks the S&P 500, could be indirectly affected due to its exposure to global markets. Any significant changes in China's economy could impact the global economy and thus the value of SPY.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 60