The trade talks between China and the United States continued last week in Beijing. Photo: AFP

US-China trade war deal could be too late for the likes of Mastercard, American Express and Visa

  • China promised to allow foreign firms into its domestic electronic payments market by 2006 having joined the World Trade Organisation in 2011
  • The administration of Barack Obama failed to resolve the issue, Donald Trump has taken up the cause with President Xi Jinping
Topic |   China economy

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The trade talks between China and the United States continued last week in Beijing. Photo: AFP
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Minxin Pei, a professor of government at Claremont McKenna College and a non-resident senior fellow at the German Marshall Fund of the United States, wrote ‘China’s Crony Capitalism: The Dynamics of Regime Decay’. Photo: Winson Wong

US-China trade war inactivity could lead to the ‘worst recession in recent Chinese history’, says scholar

  • Political economy professor Minxin Pei says Beijing lacks the will to make radical political changes to deal with the trade war with the United States
  • Also says China’s strong control of the economy will eventually backfire, with economy slowing to its lowest growth point for almost 30 years
Topic |   US-China trade war

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Minxin Pei, a professor of government at Claremont McKenna College and a non-resident senior fellow at the German Marshall Fund of the United States, wrote ‘China’s Crony Capitalism: The Dynamics of Regime Decay’. Photo: Winson Wong
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