US President Donald Trump and China's President Xi Jinping attend a bilateral meeting on the sidelines of the G20 summit in Osaka, Japan, on June 29. Photo: AFP

Donald Trump pushed China to commit to buying US farm goods at G20, but Xi Jinping avoided firm pledge

  • The US president repeatedly pressed Chinese counterpart to commit to purchasing US agricultural goods at G20 summit in Japan
  • Xi refused to make specific commitment, signalling a new and tougher stance towards trade talks from Beijing, which was previously happy to make purchases
Topic |   US-China trade war

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US President Donald Trump and China's President Xi Jinping attend a bilateral meeting on the sidelines of the G20 summit in Osaka, Japan, on June 29. Photo: AFP
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South Korean car manufacturer Kia Motors has a factory in Pesqueria, Mexico. Photo: Bloomberg

US-China feud is accelerating the biggest shift in trade since the cold war, away from globalisation

  • Trend described as ‘deglobalisation’ and ‘balkanisation’ is leading to shorter supply chains as companies try to keep up with more sophisticated consumer demand
  • As firms rush to avoid Donald Trump’s tariffs and other geopolitical volatility, the trend is accelerating, leading to a complete shift in global trade
Topic |   US-China trade war

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South Korean car manufacturer Kia Motors has a factory in Pesqueria, Mexico. Photo: Bloomberg
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