UK banks may profit while the US and China exchange trade tariffs, like candies according to one of the world's biggest banks. If American banks would suffer due to decreased market access to China because of the escalating trade tensions, Gerry Grimstone, chairman of Barclays Bank PLC, said: "I hate to say so but I think its right." If China targets U.S. banks in that way, British institutions may have an advantage over their American competitors in the world's second-largest economy, At the annual Barclays Asia Forum in Singapore Grimstone reported to CNBC "I was speaking at a forum earlier this year and they [the Chinese] put the Goldman Sachs chairman in a hotel as far as possible away from the conference location ... So in little ways like that, China makes their displeasure known."
Italy's economy may be Greece’s twin brother
Daily Analysis - 09/10/2018