Ashmore, the emerging markets specialist fund manager, has claimed that China is now the world's "undisputed leader" on economic issues, following the election of new US President Donald Trump and his decision to pull out of the Trans-Pacific Trade Partnership.

The fund manager's head of research Jan Dehn, known for his unfailingly bullish stance on emerging markets, has begun 2017 with a series of eye-catchingly trenchant criticisms of President Trump.