The phase one trade deal between the US and China set to be signed on Wednesday is likely to be notable not for what it includes, but for what it omits, according to international trade experts.
“The two sides have reached a deal simply by avoiding the difficult issues like intellectual property protection in China,” said Mark Williams, chief Asia economist at Capital Economics. “China has no desire to change the way its economy operates.”
Experts predicted that corporate America’s wait for a final resolution or grand bargain was now almost certainly going to be pushed until after the U.S. presidential election in November, further prolonging an economic limbo that has put a chill on business investment and capital expenditures. “A lot of the uncertainty that is plaguing businesses about their trade supply chains will continue after this deal,” Yerxa said.
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