Though the U.S. economy continues to grow, Europe and Asia have weakened. In this interconnected world, this country cannot grow alone for long
Prosperity, it seems, is perpetually under threat. These days, the China-U.S. trade dispute seems the most likely source of danger. Even before it had much effect on trade, it had unhinged confidence in future sales and, in the process, discouraged hiring and capital spending throughout most of the developed world from Topeka to Stuttgart to Shanghai.
China’s pain shows elsewhere as well. Chinese producers have cut back on capital spending and other expansion plans, and that decision has hurt especially German and Japanese exports. According to World Bank figures, some 9% of German exports go to China as do almost 20% of Japanese exports, much of it machinery and industrial supplies as well as technology.
If the solution to all this pain and potential loss lies with a U.S.-China trade agreement, the state of negotiations leaves only ambiguous prospects. Both sides certainly want an agreement. China wants an end to the economic pressure and Washington wants to erase the chance of recession. The recent truce arranged by China and the United States in this standoff relieves some pressure but not the underlying issues.
France Dernières Nouvelles, France Actualités
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