When Michael Sabia became head of the Caisse de Depot et Placement du Quebec about 11 years ago, globalisation was in full swing. As he prepares to step down, that momentum is fading and investors will need to adapt, he said.
Sabia, who will leave his post as chief executive officer of Canada’s second largest pension fund in February, said the world is fracturing into huge regions of influence.
“The conflict between China and the United States is not going away anytime soon,” the 66-year-old told reporters after a speech in Montreal. “I think it is going to change some global trading patterns, it is potentially going to change some important things around the evolution of technology, 5G.”