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In an interview with CNBC on Wednesday, the Secretary-General of the OECD Angel Gurria made the downside risk explicit, noting that investment and trade growth are reliant on a Sino-American deal.
Guria said that President Trump confirmed on Tuesday – during a presentation at New York’s Economic Club – that a Sino-American deal was in sight. “We are betting on that,” the OECD General Secretary said.
However, President Trump also called China a “nation of cheaters,” Reuters reports.
The stakes of a deal are surging. “The rate of growth of trade has come down from 5.5% in 2017, “ Gurria said, adding that “as we speak, trade is going negative, it’s contracting.” [...]