Text of Phase One trade deal is balanced, fair


Global Times reports, citing commentary by Chinese analysts on the matter

The report says that local experts believe that the Phase One trade deal reflected what Chinese officials have been stressing – that any agreement must be balanced and fair.
ForexLive

On the $200 billion purchases of US goods, a director of the Chinese Academy of International Trade and Economic Cooperation’s foreign trade institute said that “this should not be too difficult”. Adding that:

“Price of these US products are very competitive so we can’t say China has been taken advantage of.. The agreement also includes terms about the US ensuring market supply, which could mean the US lifting bans on chip exports to China. If that is the case, there is huge potential as China imports $300 billion worth of chips each year.”

Further commentary can be found in the report here.

I think the more important thing to note is the sentiment surrounding the Phase One trade deal. So far, the Chinese media is painting a more positive response and outlook to all of this – which lends to more calm and relief for markets in general.



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