24-Sep-2019 | Facts and Factors
Now that ongoing Sino-US trade war has taken its toll on the business confidence all over the world, just a small and even an insignificant deal between the two economic giants will do a world of good to raise the sentiment albeit, at least. This was revealed by Tony James, the Executive Vice Chairman of Blackstone on Saturday.
A deal, according to him, may include joint statements or agreements on relatively easier items like China procuring more US Agri products, without minding much about the major issues like protecting intellectual property, and the likes.
However, he at the same time admitted that compared to what things were last year things now look far meeker and less optimistic, more so when it comes to resolving the ongoing trade war. He told at the same time, that ‘smaller’ deal that he talked about is more modest than what his earlier expectations were.
While speaking to the reporter, he divulged his dilemma, telling that he is optimistic and at the same time, less optimistic. He, however, reiterated that it is for the global economic as well as political compulsions that the two countries and its leaders must arrive at an agreement and a deal.
The trade dispute between the China and USA, which has now rolled into the second year triggered off with a row regarding the tariff, but soon snowballed into a major conflict, as the dispute spilled into other areas, including that of technology. The very recent escalation of trade hostility between the two economic giants has further dampened the spirits, lessening the expectations that the row between the two counties would be resolved any time soon.
Chinese negotiators were in the US capital last Friday, for discussing trade issues ahead high-level summits that are scheduled next month. However, the negotiators called off their visit to meet the American farming fraternity, without giving any valid reason behind their decision.
