LONDON (Reuters) – Standard Chartered <STAN.L> chief executive said on Tuesday that the trade dispute between the United States and China could be settled and that it was in nobody’s interest for the deadlock to continue for a long time.
Bill Winters said there were concerns about the unreliability of supply chains as a result of the conflict between the two countries.
“There are winners and losers from that – Chinese companies themselves are relocating parts of their supply chains from China to other parts of Asia – Taiwan has been a beneficiary, Vietnam has been a beneficiary,” he said at a Bloomberg conference in London.
“But there are some losers as well – clearly there are some industries in China that are feeling the pinch,” he said, without elaborating.
(Reporting by Tom Arnold; Editing by Tom Wilson)