Came across this very interesting comment from CNBC from former head of International Monetary Fund’s (IMF) China Division, Eswar Prasad who opines that an economic decoupling of US and China is a very long way away:
“These two economies are still quite closely tied. After all, it’s very hard for the two largest economies in a way to stop bumping into each other in various dimensions.”
“The desire to get away from the grasp of the US-based or dollar-denominated international financial system is certainly something at the forefront of China’s mind.”
“That is why the world’s second-largest economy has been pushing for greater use of the Chinese yuan in settling trade.”
Care to share any of your thoughts on the above?
On a lighter note, China is expecting a record amount of 'x' purchase from US this year. Wondering what ‘x’ is….it's SOYBEANS! Yes, soybeans. They are of the opinion that lower prices will help to boost purchases pledged under the Phase One trade deal. Great to see this positive news out of the Sino American tension.
تم التحرير 26 Aug 2020, 14:42
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