US Commerce Secretary Wilbur Ross arrives at a state dinner at the Great Hall of the People in Beijing on November 9, 2017. Photo: Reuters
Opinion
Opinion
Macroscope
A ‘phase one’ US-China trade deal will do little to bolster confidence shattered by deglobalisation
- US Commerce Secretary Wilbur Ross recently suggested that an initial trade deal will go a long way towards resolving global uncertainty. To the contrary, it will take much more to reverse the effects of deglobalisation accelerated by the Trump administration
US Commerce Secretary Wilbur Ross arrives at a state dinner at the Great Hall of the People in Beijing on November 9, 2017. Photo: Reuters
New cars are lined up at a BYD factory in Xian, Shaanxi province. China’s economic output has slowed to the critical level of 6 per cent in the third quarter of the year. Photo: EPA-EFE
Opinion
Opinion
The View
With the US-China trade war likely to drag on, are Beijing’s economic growth targets still valid? Maybe not
- Markets believe certain growth levels need to be maintained in China’s quest to become a ‘moderately prosperous society’ and, ultimately, a superpower
- However, with the trade war and changing external circumstances, missing growth targets might become the new norm
New cars are lined up at a BYD factory in Xian, Shaanxi province. China’s economic output has slowed to the critical level of 6 per cent in the third quarter of the year. Photo: EPA-EFE