John Authers, Columnist

There’s More Than Ukraine. How About a China Pivot?

While we’re all nervous about this crisis, we still need to keep an eye on issues that are likely to outlast it.

February 18, 2022 at 5:19 AM UTC

John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”

Chances are that everyone’s eyes will be glued to China again before long.
Photographer: Qilai Shen/Bloomberg

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I have a problem. Nothing matters to the short-term future of markets more than the situation in Ukraine. Another “risk-off” exodus from stocks to bonds as the news bleakened in Thursday’s trading makes that clear. My problem is that I don’t know what’s going to happen next there. Neither does anyone else (with the possible exception of Vladimir Putin.) Beyond suggesting that this isn’t a great time to take any big new positions in investments that are exposed to the situation, I don’t have much to say.