Trade talks to shore up confidence, prospects
The consensus between China and the United States to restart economic and trade consultations will shore up confidence in both countries and boost global economic growth prospects, experts said.
US President Donald Trump and President Xi Jinping agreed on Saturday at the G20 Summit in Japan to restart trade negotiations that have been stalled since the 11th round in May. During the meeting on Saturday, it was announced that Washington would not impose additional tariffs on Chinese goods.
Wang Xiaosong, a professor of international trade at Renmin University of China's School of Economics, said the truce agreed upon by the two leaders would have a significant effect on the global economy. "It can lift confidence in both economies and the world's economic prospects," Wang said.
