How the US-China trade war will impact the UAE

Tuesday, 6 August 2019 11:15

SPENCER PLATT / GETTY IMAGES NORTH AMERICA / AFP

Recent escalations in the trade war between USA and China will have a mixed effect on the UAE's economy.

That's according to experts, who spoke to ARN News after US President Donald Trump accused Beijing of currency manipulation.

He made the comments as the Chinese yuan passed the seven-per-dollar level for the first time in 11 years.

Anita Yadav, Head of Fixed Income Research and Senior Director of Wholesale Banking at Emirates NBD, said one of the positives of the recent developments is that it could attract more international investment into the Emirates.

Yadav also said it could slow things down in Dubai's trade and logistics hubs.

More from Business

China, Pakistan aim to revamp economic corridor, Gwadar port

China and Pakistan have reached a "new broad consensus" on deepening strategic ties to beef up development of a joint economic corridor and establish the port of Gwadar as a regional connectivity hub, the neighbours said on Tuesday.
H.H. Sheikh Mohammed reviews UAE tourism sector achievements for 2025

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has highlighted the UAE's strong performance in the tourism sector by unveiling a record 9.7 per cent growth in hotel revenues in 2025.
UAE outlines vision for low-emission hydrogen economy at World Hydrogen Summit

The UAE's Ministry of Energy and Infrastructure has participated in the World Hydrogen Summit & Exhibition in Rotterdam, a leading international platform bringing together policymakers, experts and industry leaders to discuss the future of hydrogen and sustainable energy systems.
India, US discuss trade as Rubio cites progress on Iran conflict

US Secretary of State Marco Rubio held talks with Indian Foreign Minister Subrahmanyam Jaishankar on Saturday, as the two sides discussed trade, visas, maritime security and energy supplies, while Washington cited progress on efforts to resolve the Iran conflict.