NEW DELHI: Amid global trade tension and rising protectionist measures by governments globally, a change in world trade order seems underway. A recent survey of CFOs across the globe sees their company's spending and investment worldwide to change.
An American Express report on Tuesday said that "33 per cent of CFOs expect their company's spending and investment worldwide to change by 10 per cent or more this year". Several companies are in the process of moving out of China owing to the trade tesnion between the the US and China while several others are mulling the same.
Even countries not directly in the trade war are affected and forced to change their ways. However, recently financial markets breathed a sigh of relief after President Donald Trump agreed to pause imposing 25 per cent levies on another USD 300 billion of Chinese imports after meeting President Xi Jinping at the G-20 summit, but analysts noted the tension is far from over.