A ‘phase one’ US-China trade deal will do little to bolster confidence shattered by deglobalisation

I asked US Commerce Secretary Wilbur Ross during a telebriefing from Bangkok last week how long it might take for international business confidence and investment to recover from US President Donald Trump’s trade wars even after a “phase one” settlement is reached between the US and China. His response was simplistic and over-optimistic. 

“I’m reasonably optimistic,” he said. “We will at least get phase one together, and that will go a long way toward resolving the uncertainty. People were…

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