The U.S.-China trade war is only one component of a large-scale problem with China.
The U.S.-China trade war appeared to reach a breakthrough last Friday after President Trump announced that he had reached phase 1 of a trade deal with China.
“Policymakers are probably overplaying the economic effects of the trade war so far,” Shearing added. “Jerome Powell made an oblique reference to the trade war in a speech last Tuesday and it’s become increasingly common for central banks to cite it as a key drag on growth over the past six months. But while the trade war has clearly been a headwind to growth, it has been one of several factors weighing on the global economy.
Presidential candidate Mayor Pete Buttigieg echoed a similar sentiment over the weekend while speaking on the issue of China at the New Yorker Festival.
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