For instance, the heightened fears about an escalation of tensions between the US and China, in light of the US decision to impose tariffs on imports on national security grounds and the US stance in the negotiations over the revision of the North American Free Trade Agreement (NAFTA), more specifically, the US demands to limit imports from Canada and Mexico.
What I would like to convey today is that these domestic factors are closely related. For example, the disposal of the NPLs of financial institutions and structural reform of the economy are two sides of the same coin, and are also deeply related with financial market and asset price developments.