The United States could be spared the worst in a trade war
Mohamed El-Erian thinks a trade war will hurt the global economy. But it’ll hurt the United States less than others.
In a piece for Project Syndicate, Allianz’s chief economic adviser wrote that “today, a trade war would damage all economies.”
But, he added, the United States “would do better than most others in a contracting world economy. Already, Chinese financial markets have suffered, while those in the US have held their own.”
The investing expert will join CNNMoney editor-at-large Richard Quest on “Markets Now” on Wednesday.
In addition to the ramifications of a trade war, El-Erian and Quest will discuss the importance of continuing job growth to the US economy, the best sectors to invest in today and when bitcoin can be a good bet.
Recently, El-Erian said on CNBC’s “Squawk Box” that he’d buy bitcoin if it fell to about $ 5,000 per coin.
The price of one bitcoin is now hovering around $ 6,400. That’s a more than 50% drop in 2018 and a 66% plunge from the all-time high of just under $ 20,000 that bitcoin hit in late December.
Related: Watch ‘Markets Now’ here every Wednesday at 12:45 p.m. ET
CNNMoney’s “Markets Now” streams live from the New York Stock Exchange every Wednesday at 12:45 p.m. ET. Hosted by Quest, the 15-minute program features incisive commentary from experts.
Recent guests include BlackRock’s (BLK)Rick Rieder, Stifel Chief Economist Lindsey Piegza and bitcoin bull Mike Novogratz.
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