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23 May 2018
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The US had bilateral merchandise trade deficits with 102 countries last year. Photo: Reuters
Stephen Roach
Stephen Roach

No bilateral solution for the US’ multilateral dilemma

The United States and China appear to have backed away from the precipice of a trade war, but that framework of negotiations is flawed: a deal with any one country will do little to resolve America’s fundamental economic imbalances that have arisen in an interconnected world.

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