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"Canada really has a reasonable institutional framework for coordination between jurisdictions because of historical circumstances," Fierlbeck said. "At this point, most of the first ministers have not decided to play politics with COVID the same way that certain American officials have been."

"China calls for trade disputes to be settled through discussion as equals, opposes trade protectionism, and will resolutely safeguard its lawful rights," he said, noting that the country is ready to work with all parties to advance multilateral trade negotiations.

"But the space on the monetary side is limited as we need to stick to efforts to promote deleveraging moves, while room for fiscal expansion remains ample - more tax cut policies can help to soothe economic concerns, in particular value-added tax," he said.

"CMB has always been dedicated in bringing a better user-experience with technology and these clients are the people we can experiment on. I think artificial intelligence and fintech will be a new battleground to win over Chinese private banking clients."

"But we should not forget China remains an attractive market-with a large and skilled labor force, efficient infrastructure and deep integration into global value chains. It is an increasingly attractive market that all producers aim to capture."