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rld’s two largest economies goes far beyond their own borders, of course.
According to Reserve Bank of Australia Governor Philip Lowe, the Sino-亚博体育足彩app千花坊品茶微信
US trade war poses the biggest risk to global economic stability. In a private meeting o
亚博体育足彩app千花坊n Tuesday, Lowe said the trade dispute was hurting global investment, wages and e
conomic growth, the Sydney Morning Herald reported. That corroborates an earlier alarm about the trade w
ar sounded by the International Monetary Fund in May, saying it will “jeopardize” global growth.亚博体育足彩app千花坊品茶微信
Yet despite all the negative consequences, the US leader has tried to rationalize the hefty ta
亚博体育足彩app千花坊riffs he has imposed on Chinese goods by holding China responsible for all the US woes. “China has been ripping this c
ountry off for 25 years”, he said on Tuesday, ignoring the fact that Sino-US trade relations have benefited both sides ov亚博体育足彩app千花坊品茶微信
er the years and their disputes — which exist among all trade partners — can only be solve
d through talks based on equality and mutual respect rather than hard-handedness.亚博体育足彩app千花坊
Maximizing pressure may be part of his deal-making art. But as the trade dispute stretches into its second year, the confr
ontational stance on the part of Washington has only proved counterproductive.
亚博体育足彩app千花坊For trade talks to make progress, the US has to take concrete actions to show its sincerity.
Interest rate reform not to have direct impact on renminbi exchange rate
Further monetary easing remains one of the options to support economic growth in Chin亚博体育足彩app千花坊品茶微信
a, after the debut of the new market-driven lending rate, according to central bank officials.
“There is room for cutting interest rates and reserve requirement ratios,” Liu Guoqiang, deputy governor of the Peo亚博体育足彩app千花坊
ple’s Bank of China, the central bank, told reporters on the sidelines of a news conference on Tuesday.
“The future adjustments will depend on the changes of economic growth pace and the price level indicated by the consumer price in亚博体育足彩app千花坊品茶微信
dex,” said the senior central bank official. “The Chinese economy is not in deflation, and the marke
t rates have dropped obviously to a generally reasonable level at the moment.”