China and the United States have just signed the phase one trade agreement on Wednesday in Washington D.C. Having reached the deal, China will increase its imports from the U.S. and the latter one will suspend and reduce some of the previously imposed tariffs on China.
On Wednesday, China and the United States have finally signed the long-expected phase one trade deal. Among the things they have reached consensus on, intellectual property rights (IPR) protection was an heavyweight issue. So, how to decipher the agreement?
China's GDP growth in the final quarter last year showed that the economy has approached the bottom for the near term. Looking ahead, the degree of the trade tension between the U.S. and China will remain to be the key factor to drive China's growth rate. The analysis shows that details in the phase one trade deal can be achieved by China, as the nation vows to boost domestic demand in both industry and consumption.
It will be a personal misfortune for Meng if the upcoming trial of January 20 fails to result in her release. But, it might be a historical mistake for the countries involved to keep detaining the Chinese woman with only the evidence which is not free from controversy.
No deal in the world is perfect. The current China-U.S. phase one deal is the best that could be done under the current circumstances. Both China and the U.S. want a fair trade relationship, but the question is, what is fair in international trade?