A trade agreement between the United States and China stabilizes the situation in the global economy, but only for a short time, for a year or two, Russian Economic Development Minister Maxim Oreshkin said on Saturday
TASHKENT (Pakistan Point News / Sputnik - 02nd November, 2019) A trade agreement between the United States and China stabilizes the situation in the global economy, but only for a short time, for a year or two, Russian Economic Development Minister Maxim Oreshkin said on Saturday.
"I think that if we talk about the short-term history, about the history for the coming year, then, of course, the agreement is only welcomed, because it stabilizes the overall situation and the situation will no longer worsen. But in any case, the world trade and the global economy have already been irrevocably damaged because it is clear that now all possible economic agents have expected a possible negative scenario. Yes, the conclusion of an agreement in the near future, for the next quarter, maybe for a year or two will stabilize the situation," Oreshkin told reporters.
On October 13, US President Donald Trump announced he had agreed in principle to a "phase one" trade deal with China's Vice Premier Liu He after high-level negotiations between the two sides in Washington. Liu, in turn, said that negotiations must be conducted on the basis of equal and mutual respect to address the two countries' core concerns.
