“A tripolar world led by the United States, China and the European Union (EU) will affect trade and supply chains, regulations, technology and the role of governments,” Moody’s Investors Service noted in its latest report published Tuesday. .
“Moving to a tripolar world economy poses widespread credit risks.”
“Closer intraregional trade will partly offset the slowdown in interregional flows, investment and capital flows will be more influenced by politics.”
Risk sentiment remains tepid amid mixed Asian stocks and negative S&P 500 futures as the escalation in coronavirus cases in the US continues to overwhelm market optimism about the vaccine’s progress.
The US Dollar Index is trading 0.16% lower at 92.50. at the time of writing.