📝 Geopolitical Uncertainty And Volatility Likely to Continue: Westpac

The spotlight has remained on the National Party Congress and President Xi’s degree of control, particularly after this week’s data (including Q3 GDP) was delayed with little notice and no explanation.

So far, President Xi and the Party have emphasized their desire for China’s position in the global economy to continue to strengthen while remaining resolute in their belief in the success of COVID-zero as well as their geopolitical views, particularly for Taiwan. As we have seen throughout the past year, China is pursuing the growth opportunities open to it through efficiency; productivity; and expansion into Asian markets.

As this economic development is achieved, China’s position in the region and global economy will continue to strengthen. While this opens up opportunity for greater trade and growth for the region overall, it also raises the probability of geopolitical uncertainty and volatility continuing as the West (particularly the US) seeks to preserve its position and influence.

- Westpac