US Trade Representative Robert Lighthizer shakes hands with Chinese Vice-Premier Liu He at the Xijiao Conference Centre in Shanghai on July 31. Chinese and US negotiators held talks in Shanghai in a bid to bring the year-long trade war to an end. Photo: AFP
David Brown
Opinion

Opinion

Macroscope by David Brown

A trade war truce? The US and Chinese economies need one, but they also need domestic reforms to stave off global catastrophe

  • The US’ overreliance on expansionary fiscal policy when the country is already deeply in debt is a recipe for disaster
  • Beijing, for its part, needs reforms to spur domestic demand, not currency depreciation that could further provoke the US

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US Trade Representative Robert Lighthizer shakes hands with Chinese Vice-Premier Liu He at the Xijiao Conference Centre in Shanghai on July 31. Chinese and US negotiators held talks in Shanghai in a bid to bring the year-long trade war to an end. Photo: AFP
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