Goldman Sachs CEO emphasizes need for improved US-China relations

Investing.com -- Goldman Sachs CEO, David Solomon, stressed the importance of strengthening bilateral ties between the U.S. and China, the world's two largest economic superpowers, during an interview at the World Economic Forum in Davos, Switzerland. This statement comes shortly after Donald Trump assumed the U.S. presidency and threatened to impose new tariffs on imports from China and the European Union.

During Trump's previous term, he imposed tariffs on over $300 billion worth of Chinese imports. Solomon, however, suggested that a thoughtful rebalancing of certain trade agreements could potentially benefit U.S. growth. "The question is, how far? How quickly, how thoughtfully?" he posed to CNBC.

Goldman Sachs has a significant history in China, maintaining offices in Beijing, Shanghai, and Shenzhen. The investment bank, in 2021, received approval from China's securities regulator to fully control its mainland securities business.

Looking to the future, Solomon reiterated his expectation for a meaningful increase in deal activity by 2025. Last month, he suggested at a conference that dealmaking in equities could surpass the 10-year averages this year.

In regards to cryptocurrency, Solomon does not view bitcoin as a threat to the U.S. dollar. He expressed belief in the dollar's strength and categorized bitcoin as a speculative asset.

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Source: Investing.com