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It seems as though everyone has forgotten about the trade war between the U.S. and China. And that is a shame because the latest data suggest that it matters more than ever. According to the latest version of BofA Securities Inc.’s closely followed monthly survey of global fund managers, the long preoccupation with U.S.-Chinese trade has almost dropped off the list of professional investors’ concerns. It now ranks only fourth, behind the coronavirus, the U.S. election, and a possible credit event. Before the pandemic struck, the trade war had been feared as the greatest tail risk for two years:
