Xi versus Trump – China wins on points

G20 bout resulted in no knock-out! We got a trade war truce, but we didn’t get any shift in the global confrontation between China as the rising power and the US as the declining one. Nor a guarantee Trump won’t reignite the trade war and impose extra tariffs if it suits his agenda. It’ll give markets some breathing space, but it doesn’t fundamentally ease the pressures the global economy is wrestling with.

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