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China Global: Trump and Xi see off the storm – for the moment

Overview

  • Yesterday’s telephone call between the two Presidents defuses the immediate danger of a breakdown in US-China relations and is positive for global reflation.
  • But the longer-term prospect of confrontation remains; one telephone call does not dissolve political and strategic risks.
  • The Trump administration is taking time to assess its strategy while Beijing will see its policy as being vindicated.
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