The recent APEC summit in Papua New Guinea has ended without a communiqué for the first time reflecting the deep divisions between the USA and China on trade issues. For the first time since leaders began attending the annual Asia-Pacific Economic Cooperation meeting in 1993, no statement was issued after two days of talks in Papua New Guinea. The Pacific island nation’s Prime Minister Peter O’Neill blamed “two big giants in the room” for the discord.
Chinese officials clearly do not expect the trade wars to end suddenly, or for existing sanctions to be rolled back or lifted, certainly in this round. They believe, however, as the Federal Reserve hikes rates, and as the US, and global, growth momentum perhaps slows, the China-US trade wars could be concluded in full by 2020Dr. Mohamed A. Ramady