- Joined
- Jun 24, 2023
- Messages
- 2,638
I work in private practice law in investment funds and it is quiet aa anything right now. I would guess the fund managers are scrambling and a freeze on new projects amd products has been implemented across the board.
Funds by their nature are global and we regularly have EMEA, US, Asian and Australian products established in Ireland so this isn't isolated to the EU.
A superpower never goes down without a fight and in trying to find a reasoning for this I think Trump and co are trying to get ahead of this fight. Whether it's an underestimation of the rest of the world's ability to diversify or an overestimation of themselves I really don't see how this works for them, they're playing into China's hands.
I was surprised to see the strength of China's response, they tend to plan in centuries and not short terms, with an inward approach first but I imagine it's quite calculated.
I have always wanted to go in house in any case but might expedite this if I can. Ireland isn't currently a great jurisdiction for Chinese products, hard to tell if it ever could be either, so getting into a shop with exposure to the UK, Lux and/or Switzerland would be timely in the next few years.
That's a great point about China being reactionary. It's hard to believe they hadn't pre planned for this, Trump tried it with them in term 1, and Biden then failed to out manoeuvre them. To see them sat at the poker table screaming 'raise you 50%' is very unlike them...