One-third CFOs see change in investment this year: Report

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Osaka: Prime Minister Narendra Modi with (first row L-R) Brazil President Jair Bolsonaro, French President Emmanuel Macron, Indonesian President Joko Widodo, Turkish President Recep Tayyip Erdogan, United States President Donald Trump, Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, Japan Prime Minister Shinzo Abe, Argentine President Mauricio Macri, Russian President Vladimir Putin, Chinese President Xi Jinping, South Korean President Moon Jae-in, South African President Cyril Ramaphosa, German Chancellor Angela Merkel; (second row L-R) European Commission President Jean-Claude Juncker, Australian Prime Minister Scott Morrison, British Prime Minister Theresa May, Canadian Prime Minister Justin Trudeau, Italian Prime Minister Giuseppe Conte, European Council President Donald Tusk, and other leaders of member countries at the G-20 Summit in Osaka, Japan

New Delhi, Amid global trade tension and rising protectionist measures by governments globally, a change in world trade order seems underway. A recent survey of CFOs across the globe sees their company’s spending and investment worldwide to change.

An American Express report on Tuesday said that “33 per cent of CFOs expect their company’s spending and investment worldwide to change by 10 per cent or more this year”.

Several companies are in the process of moving out of China owing to the trade tesnion between the the US and China while several others are mulling the same.

Even countries not directly in the trade war are affected and forced to change their ways. However, recently financial markets breathed a sigh of relief after President Donald Trump agreed to pause imposing 25 per cent levies on another $300 billion of Chinese imports after meeting President Xi Jinping at the G-20 summit, but anlysts noted the tension is far from over.