Burkhard Varnholt: "Trade tensions have unintended consequences"
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Burkhard Varnholt: "Trade tensions have unintended consequences"

Why China's Renminbi could soon become the world's second reserve currency.

Global trade tensions not only have short-term implications, but will also have long-term consequences. World regions that are not part of the US market are coming under pressure from trade restrictions.

Burkhard Varnholt, deputy Chief Investment Officer, explains what effect this will have on the world order and reserve currencies.

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Watch also: Burkhard Varnholt on why economic expansions are like a marathon.