Investing.com — Goldman Sachs CEO David Solomon stressed the importance of strengthening bilateral ties between the US and China, the world’s two largest economic powers, during an interview at the World Economic Forum in Davos, Switzerland. This statement comes shortly after Donald Trump took office as US president 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 US growth. “The question is how far? How fast, how deliberate?” he posed for CNBC.
Goldman Sachs has a significant history in China, maintaining offices in Beijing, Shanghai and Shenzhen. In 2021, the investment bank received approval from the Chinese securities regulator to fully control its securities business in the mainland.
Looking ahead, Solomon reiterated his expectation of a significant increase in dealmaking activity through 2025. He suggested at a conference last month that dealmaking in stocks this year could exceed 10-year averages.
As for cryptocurrency, Solomon does not see bitcoin as a threat to the US dollar. He expressed his belief in the strength of the dollar and categorized bitcoin as a speculative asset.
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