According to Mei Xinyu, a researcher at the Ministry of Commerce
- China stood firm on three issues
- First is the use of imports to ease trade imbalances
- Second is that there is no hard target of a reduction in the trade surplus
- Third is the protection of China's industrial upgrade policy
More on that here. China and the US has reached a somewhat truce in trade talks in Washington over the weekend, and risk assets are cheering that on so far today.
But if last week's rumoured $200 bn supposed reduction in China's trade surplus is to go by, imports/purchases alone won't do the trick. We'll have to see what sort of firm commitment the two parties have in place to narrow that gap.
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