But he noted that the shock has already been felt by businesses, and they have already begun to alter their processes.
“The whole system is preparing itself for this happening again,” he said. “The long-term consequences of this are definitely going to be there.”
Hippe Brun, who works primarily across Asia Pacific, said China had so far been especially disrupted by the tariff war.
But he also noted that the world’s second largest economy is well positioned to take advantage of new trade relationships with emerging economies, for instance via its Belt and Road Initiative — a network of infrastructure projects designed to expand China’s economic reach and political influence across several countries.
“With China, they’re already prepared themselves for opening up trade with Europe, the Middle East and Africa. China is already in a position where they can shift and adjust and build up new supply chains,” he said.
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