One of its main motives will be the cold (economic) war between Washington and Beijing.
The bank’s analysts pointed to the key features of the new era: China’s economic dominance over the United States and the attendant tensions between countries, rising global debt, the rise of millennials (who entered adulthood in the 21st century) and younger generations, including electoral weight.
“Disorder will define a new era for at least several decades. However, not every mess is bad. The onset of a new era is not a reason to abandon the purchase of financial assets, since this period will bring new large-scale interventions [by the monetary authorities] and liquidity.