US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin pose for a photo with Chinese Vice-Premier Liu He in Shanghai on July 31. Within 48 hours of this picture, when progress in negotiations was apparent, the trade war between the US and China escalated with the announcement of fresh tariffs. Photo: AFP
Hao Zhou
Opinion

Opinion

The View by Hao Zhou

China is tightening and the US is easing, but both show signs of digging in for a long trade war

  • China pushes ahead with deleveraging and tightening standards to avoid systemic risks, while the US seeks stimulus
  • These approaches appear opposite, but both are about girding up to maintain an advantage in the trade war

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US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin pose for a photo with Chinese Vice-Premier Liu He in Shanghai on July 31. Within 48 hours of this picture, when progress in negotiations was apparent, the trade war between the US and China escalated with the announcement of fresh tariffs. Photo: AFP
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