World News: 01:08 GMT Thursday 13th June 2019. [Yahoo Business News Feed via SPi World News]
China should not restrict access for U.S. financial firms if the trade war escalates and spills into the financial sector, said a lobby group representing global banks and asset managers. The Asia Securities Industry & Financial Markets Association (ASIFMA) also urged Beijing to accelerate opening up of the country's financial markets to attract much-needed foreign capital to aid a slowing economy amid rising trade tensions. 'Our message to the Chinese authorities would be that it wouldn't be wise at this point in time to play those kind of games between U.S. and non-U.S. firms,' ASIFMA CEO Mark Austen told Reuters.
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