Tenuous US-China trade deal comes as Beijing and Washington remain on a permanent collision course — Commentary
China is stepping up the narrowing of its U.S. trade imbalance to reduce dependence on dollar-denominated transactions and a dollar-dominated world financial system.
Chinese President Xi Jinping and US President Donald Trump at the Great Hall of the People in Beijing on November 9, 2017.By sharply accelerating in recent months its trade adjustment with the U.S., China has finally done what it should have initiated more than two years ago. That conclusion has come after years of pleading for a "win-win cooperation," while Washington kept trying to contain China's growing global economic and political influence. Instead of cooperation, the U.S. defined its relationship with China as a strategic competition with a country seeking to destroy the Western world order.
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