Chinese officials are not about to bet on the 2020 US presidential election in formulating their strategic response to the trade conflict, says ...
NEW HAVEN: A couple of months ago, while touring Jiangxi Province, Chinese President Xi Jinping made reference to an old revolutionary milestone.
The upcoming US-China trade talks will be held in Shanghai, home of the 1972 Shanghai Communique -- an important diplomatic document. While hardly an oasis in a weakening global economy, China is far less exposed to a trade shock today than it was back then. Even if it loses a trade war – a debatable proposition – damage to China’s overall economic growth would be minimal.
But the interbank borrowing market is still shaky, with spillovers to smaller banks, including those in rural areas. Ironically, China may be better able to manage trade risks than instability in its financial system.The second conclusion that stood out from my recent discussions is that China is patient and methodical in dealing with external wildcards – especially US politics.
US President Donald Trump and China's President Xi Jinping agreed at the G20 in Japan to cease hostilities.
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