Investing.com — Goldman Sachs CEO David Solomon highlighted the importance of strengthening bilateral ties between the United States 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 US presidency and threatened to impose new tariffs on imports from China and the European Union.
During Trump’s previous term, he imposed tariffs on more than $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 and how carefully?” posed for CNBC.
Goldman Sachs has a strong history in China and maintains offices in Beijing, Shanghai and Shenzhen. The investment bank, in 2021, received approval from China’s securities regulator to fully control its securities business on the mainland.
Looking ahead, Solomon reiterated his expectation for a significant increase in trading activity by 2025. Last month, he suggested at a conference that stock trading could surpass 10-year averages this year.
When it comes to cryptocurrencies, Solomon does not consider Bitcoin to be a threat to the US dollar. He expressed confidence in the strength of the dollar and categorized bitcoin as a speculative asset.
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