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The Chinese government perfectly understands that the trade war with the United States can put an end not only to economic growth, but also to China’s political ambitions. China may continue putting a bold face on the situation and announce another unrealistic five-year plan. However, the country’s authorities are well aware of China’s dependence on the US.
The White House knows that as well. US President Donald Trump has once again officially declared that he is not willing to make peace with China. Moreover, the American leader is not even considering further negotiations at the moment. "I’m not interested right now in talking to China," Donald Trump said. However, the president emphasized that he highly valued phase one of the trade deal signed in January this year. It was the coronavirus that triggered such a sudden mood swing. According to the American leader, it was the negligence of the Chinese authorities that caused the global pandemic. "The ink wasn’t even dry, and they hit us with the plague," Donald Trump stated, referring to the novel coronavirus, which first emerged from the Chinese city of Wuhan. Indeed, in this situation, any trade agreement is out of question. Moreover, the US has been blaming China for failing to contain the disease for months.
So far, there is no reason to expect phase two trade negotiations to continue. In addition, Beijing has not fully implemented the earlier agreements yet as the coronavirus started tightening its grip on the world, hitting demand in most countries.
© Instant Trading EU Ltd
