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

Opinion

Stephen Roach

There is no bilateral solution for the United States’ 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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The US had bilateral merchandise trade deficits with 102 countries last year. Photo: Reuters
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