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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Yi Gang, governor of the People's Bank of China, talks during an interview in Beijing on June 7. Due to the priority Beijing places on deleveraging, few analysts anticipate that the PBOC will join the global trend of policy easing. Photo: Bloomberg
Hao Zhou
Opinion

Opinion

The View by Hao Zhou

China’s slowing economy won’t push it into joining the global rate-cutting cycle. Here are three reasons why

  • Concern over capital outflows, the need to deleverage and Beijing’s independent monetary policy mean the PBOC won’t cut rates, even as economic worries encourage other central banks to do so

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Yi Gang, governor of the People's Bank of China, talks during an interview in Beijing on June 7. Due to the priority Beijing places on deleveraging, few analysts anticipate that the PBOC will join the global trend of policy easing. Photo: Bloomberg
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