Standard Chartered gets down to 'war-gaming' Trump trade battles

CEO Winters says bank planning in case 'things get very messy'

One of the world’s biggest emerging-market banks says it’s “war-gaming” trade disruptions after US President Donald Trump’s election.

Standard Chartered Chief Executive Officer Bill Winters, the former head of JPMorgan Chase & Co’s investment bank, said he’s mapping out scenarios “if things get very messy and we get into the trade war zone,” which would “almost certainly” drive investment out of the US and Europe and into Asia, where China would take the lead role in a super-regional trade bloc.

“There’s obviously a stage in the world where everything gets locked down and global trade gets reduced fundamentally and investment is reduced