US-China decoupling would be catastrophic for global economy – Fidelity International boss

The bosses of global investor Fidelity International and accountancy giant EY have voiced concerns about a fracturing of relations between the U.S. and China, speaking at the World Economic Forum in Davos on Tuesday.

Anne Richards, CEO of the $610 billion money manager Fidelity International, put her level of worry about a potential decoupling of the two economies at 6 out of 10 when asked during a panel discussion.

EY global chair and CEO Carmine Di Sibio put his own level of concern at 9 out of 10.

Richards said she was concerned about the rhetoric on both sides, but said it was important for officials to listen to what was actually being said by their counterparts.

“The realisation that a complete decoupling would be catastrophic for the global economy means that there is a genuine desire on both the US and China side to find the areas where co-operation can happen,” Richards said. (Reporting by Iain Withers, editing by Lawrence White)