Despite simmering trade conflict between China and the U.S., Beijing is still an attractive market in which to invest, according to Ariel Investments emerging market equities portfolio manager Christine Phillpotts. “What’s important to note is that U.S. exports from China to the U.S. are less than 3% of Chinese GDP, they have massively declined over the last decade,” the money manager told CNBC’s Mike Santoli in an interview for CNBC Pro from Omaha on the sidelines of the Berkshire Hathaway annual shareholder meeting. “Although there will be an effect if those exports are reduced, it’s not going to be disastrous for the Chinese economy.” The Harvard MBA also highlighted that China could further stimulate its domestic economy if needed in response to further trade tensions with the U.S. While there has been some encouraging news from both the White House and China in recent days that both countries could soon engage in trade talks, Phillpotts said she expects uncertainty to linger. “Uncertainty is here to stay. I think the risk-premium, particularly for U.S. assets, arguably should be wider for longer, as a result of that higher level of uncertainty and the policy fluctuation that we’ve seen,” said Philpotts. That uncertainty could also prove an opportunity in emerging markets, she added. This higher level of unpredictability is forcing a remapping of global trade relationships. Other countries are also considering where they stand in this new world order, and that might benefit specific emerging markets companies. Check out the full interview above.