The US-based Peterson Institute of International Economics (PIIE) labelled the US-China phase-one trade deal a ‘historic failure’. Photo: XInhua
US-China trade ‘becoming less directly interdependent’ amid decoupling despite ‘misleading’ data
- US exports to China increased by US$2.4 billion compared to a year earlier to US$153.8 billion in 2022, according to the US Bureau of Economic Analysis
- But the data is ‘misleading’ according to the Peterson Institute of International Economics and the ‘two economies are becoming less directly interdependent’
The US-based Peterson Institute of International Economics (PIIE) labelled the US-China phase-one trade deal a ‘historic failure’. Photo: XInhua
