BEIJING - It comes as no surprise that China and the United States have at last been able to deliver some results from their year-long trade talks.
The phased deal that China has consistently advocated is more realistic compared with the comprehensive deal the US administration was previously insisting upon. The US leader has accepted less than a comprehensive deal now mainly because the effects of the trade war have begun to bite in. Furthermore, all international organisations including the International Monetary Fund, the World Trade Organisation and the World Bank have all called for an end of the trade war as it has exerted negative influence on all economies.While the US flaunted the phase one deal as a major breakthrough, China has remained somewhat dispassionate.After more than one year of trade war China has a more mature appreciation of the dispute.
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