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Navarro, a business professor at the University of California, Irvine, is the author of Death by China and many other books and articles claiming that Chinese mercantilism is decimating the US economy. He co-authored candidate Trumps economic plan and fueled many of his protectionist ideas. Business groups hate Trumps threat to shake up US trading relationships, since that would likely provoke retaliatory measures by China and other trading partners subject to new US restrictions. Most Fortune 1000 companies have some exposure to the Chinese economy. Navarros ideas, if implemented, could shut down an important source of growth for those businesses and thousands of smaller companies dependent on them. But the hawkish Navarro is an outlier, even in the Trump administration. Other Trump nominees are more comfortable with free trade and loath to risk a trade war with China, or anybody. Private-equity billionaire Wilbur Ross, Trumps pick to head the Commerce Department, insists there will be no trade wars and says the main effort will be urging other countries to buy more US products. Ross has personally benefited from relatively free access to the Chinese market, and he knows how tit-for-tat sanctions would hurt American companies and the US economy. Trumps Treasury nominee, Steve Mnuchin, is a Goldman Sachs alum and Wall Street establishmentarian who seems unlikely to threaten the global economic order that has enriched the shareholder class.

About Gabe's Gabe's, founded in 1961, is a privately-held, extreme value off-price retailer headquartered in Morgantown, West Virginia. The company operates 61 Gabe's stores across 11 states, as well as 45 stores operating as Rugged Wearhouse. The company sells designer brands and fashions for up to 70% off department and specialty store prices. Their stores carry designer brand name ladies, juniors, lingerie, men's and children's apparel, along with footwear, accessories, handbags, bath and beauty products, home decor, soft home, and housewares. About Warburg Pincus Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $40 billion in private equity assets under management. The firm's active portfolio of more than 130 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 16 private equity funds, which have invested more than $58 billion in over 760 companies in more than 40 countries. Warburg Pincus has invested more than $12.5 billion in over 200 healthcare and consumer companies. Current and former investments in the retail and consumer goods sectors include Glansaol, Neiman Marcus, Poundland, REISS, Wanse, Biba Apparels, Kalyan Jewellers, Kidswant, and Intime Department Store Group, among others. The firm is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, Sao Paulo, Shanghai, and Singapore. For more information please visit www.warburgpincus.com . About Alvarez & Marsal Capital A&M Capital is a private equity firm which invests in middle market businesses that can benefit from the firm's access to significant operating resources and expertise. The firm has a strategic association with Alvarez & Marsal ("A&M"), which gives it the distinctive capability to bring the exact management or operational talent and support to the companies with which they partner. The firm is focused on investments where the investment team can help to deliver significant value to companies across a wide range of industries.

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