27 July 2020 Week Ahead, China Tension | Lynas Update Global markets sold off on Friday (S&P 500 Index -0.6%) in a pre-weekend selloff as investors grew anxious about rising tensions with China and a potential stalling of the economic recovery Markets across Asia fell on Friday after Beijing said it would retaliate against a US order that China close its consulate in Houston, Texas, raising fears that a trade deal between the world's two biggest economies could be spiked. China’s foreign ministry ordered the US to close its consulate in Chengdu, the capital of the southwestern Sichuan province. Australian/China relations also continue to deteriorate with the Chinese government mouthpiece, The Global Times, noting: “The relationship between China and Australia has now deteriorated to a very bad point, and the chance for a turnaround is slim in the near future”. The media also suggests possible trade sanctions against Australian beef and wine....