LAST SEPTEMBER a leak suggested that Donald Trump's administration was mulling steps to rid American exchanges of Chinese firms and force investors to dump stocks listed in mainland China. The share prices of Alibaba, an e-commerce giant, and Baidu, a search engine, slid. So did the yuan. Within a day, however, the government denied having such plans, calling them "fake news". Insiders say "old-school" Republicans on Capitol Hill, who favour free markets, prevailed over the president's jingoistic entourage. Markets sighed in relief.
展开▼
