U.S. Treasury's Adeyemo Says He Is Closely Monitoring Chinese Economy, Which Is Showing Weakness That Has Global Implications; U.S. Is Probably The Best Prepared To Deal With Headwinds Created By Chinese Economic Weakness
Portfolio Pulse from Benzinga Newsdesk
U.S. Treasury's Adeyemo has expressed concern over the weakening Chinese economy and its global implications. However, he believes the U.S. is well-prepared to handle the economic headwinds created by this situation.
August 24, 2023 | 6:49 pm
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NEGATIVE IMPACT
The weakening Chinese economy could negatively impact the iShares China Large-Cap ETF (FXI), which tracks the performance of the largest companies in the Chinese stock market.
FXI tracks the performance of the largest companies in the Chinese stock market. A weakening Chinese economy could lead to poor performance of these companies, which would in turn negatively impact the value of FXI.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) could potentially benefit from the U.S.'s preparedness to handle economic headwinds from China's economic weakness.
SPY tracks the S&P 500, a broad measure of the U.S. stock market. If the U.S. is indeed well-prepared to handle economic headwinds from China, this could potentially lead to a positive impact on the U.S. stock market and therefore SPY.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70