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Macroscope

Daily insight on the hottest topics in the global economy, central bank policymaking and international trade flows, putting developments in their perspective for a China-oriented audience.

US President Donald Trump delivers a speech at the Great Hall of the People in Beijing last November. Trump’s “shock and awe” of US trade tariffs has produced little progress in the last few rounds of negotiations with China, nor have tariffs reduced the bilateral trade deficit for the US. Photo: Reuters

Costs of a US-China break-up are too high for either to bear

The constructive engagement between the two countries goes back decades, and any damage to the bilateral relationship will hurt the global economy. Fundamental differences aside, the two must try to find common ground on core strategic interests.

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