Delivering Global Macro Investment Insights

DeSaque Macro Research

DeSaque Macro Research Limited was formed by Said DeSaque in April 2012 with the view to delivering global macro investment insights aimed at providing new ideas to clients.

Said DeSaque has over 26 years of experience working as a professional economist in financial services. Prior to establishing DeSaque Macro Research, Said held positions as Senior Economist at Robert W Baird and William Blair. He began his career as a graduate at PaineWebber in 1986, where he eventually became Head of the London Economics Department.

Said takes a very keen interest in international relations, along with their implications for economic development. His research interests include the economic transformation of China and its implications for global capital markets, particularly in the United States. He is a member of Chatham House in London.

The US economy and capital markets have historically been Said’s main focus of attention. He frequently presents his views to institutional investors in diverse geographic locations. In recent years, Said has also been carefully monitoring economic developments in Asia, particularly China and Japan.

Rising US-China Trade Tensions Shifts Focus to the Next Five-Year Plan

Reducing China-US Trade Tensions Requires Better Alignment of Economic Interests

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>Face-To-Face meetings between President Trump and Xi in 2026 will result in less elevated bilateral tensions in 2026, but China has doubled down on its reliance on export-led economic growth.</li>
<li>China enjoys significant cost advantages over the US in the battle to achieve AI dominance due to lower electric utility prices, courtesy of years of large expansion in power capacity.</li>
<li>China's growth was assisted by currency undervaluation.  President Trump's desire to reindustrialise the US economy requires dollar weakness, thereby raising the prospect of currency tensions between the US and China.</li>
</ul>


Face-To-Face meetings between President Trump and Xi in 2026 will result in less elevated bilateral tensions in 2026, but China has doubled down on its reliance on export-led economic growth.
China enjoys significant cost advantages over the US in the battle to achieve AI dominance due to lower electric utility prices, courtesy of years of large expansion in power capacity.
China's growth was assisted by currency undervaluation.  President Trump's desire to reindustrialise the US economy requires dollar weakness, thereby raising the prospect of currency tensions between the US and China.


Lower US-China Stress in 2026, but Currency Tensions Could Easily Return