China-US trade war to ease but conflicts will persist, says China's ex-finance minister Lou Jiwei

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BEIJING (REUTERS) - A Sino-US trade war could ease somewhat but wider conflicts between the world's two largest economies will continue, Lou Jiwei, a former Chinese finance minister, said on Saturday (Nov 9).. Read more at straitstimes.com.

BEIJING - A Sino-US trade war could ease somewhat but wider conflicts between the world's two largest economies will continue, Lou Jiwei, a former Chinese finance minister, said on Saturday .

Officials from both countries on Thursday said China and the United States had agreed to roll back tariffs already put in place on each others' goods if a"phase one" deal was concluded, but the idea has been met with opposition from some quarters of the administration US President Donald Trump. Washington has adopted a strategy to contain China's economic rise by preventing the country from climbing up the global value chain, Mr Lou said.But Mr Lou also said it would be difficult for the United States to decouple from China, given the potential disruption to global supply chains and the impact on businesses.

 

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