China is winning the trade war with the United States; it is ahead in almost all important indicators. Bloomberg writes about it.
China’s GDP increased 3.2 percent in the second quarter over the same period last year. The US economy contracted 32.9 percent in annual terms. In addition, the yuan has been strengthening for eight consecutive weeks, the longest period since February 2018. The dollar, in contrast to the Chinese currency, has been weakening lately.
Beijing is also far from fulfilling its obligations to increase imports from the United States, in this aspect the American side cannot be called a winner either. Experts also note that it is a matter of time before Chinese technology companies reach the top positions in the world. Attempts by the White House to prevent this have not yet yielded results.
At the moment, the cumulative result of all the efforts of US President Donald Trump to “separate” the American and Chinese economies is that China is becoming more self-sufficient, analysts believe.
Earlier it became known that American companies do not plan to transfer production from China to their homeland, despite Trump’s demand. In mid-August, trade negotiations were to take place between the United States and China. However, they were postponed due to the unavailability of both countries. Beijing has defaulted on its January commitments when the “first phase” of the trade deal was signed. Under its terms, China should increase purchases of American products to $ 200 billion by the end of 2020.