Excerpt: ‘CNN News’: story by Julia Horowitz, On China and US trade.
In recent months, Beijing has shown a willingness to make concessions. It’s lowering tariffs on auto imports. It’s opening its financial markets to foreign lenders. And it will start allowing US automakers to make cars in the country without local business partners.
But as notable as those changes are, China is standing firm on big issues. It’s plowing ahead with its plan to dominate tech, including artificial intelligence. At the same time, China is pumping hundreds of billions of dollars into infrastructure projects in Asia, Africa and Europe — buying years of goodwill and geopolitical influence.
Trump, meanwhile, focuses on the trade deficit. But economists say that fixation is misplaced. China will continue to be a giant producer on the global stage, while the US economy is driven by consumer spending. Read More
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