November 11, 2018 via Bloomberg
The U.S. and China are on the brink of a new Cold War, with experts such as former U.S. Treasury Secretary Hank Paulson warning of a new “Economic Iron Curtain” between the world’s two largest economies if they cannot resolve their strategic differences.
Ahead of a meeting with China’s Xi Jinping at the Nov. 30-Dec. 1 Group of 20 summit, President Donald Trump has signaled his willingness to cut a deal. Yet, even if the two sides’ deep differences can be overcome, any peace is likely to take months to wrangle and is unlikely to bring immediate relief for companies from the tit-for-tat tariffs that have hit almost 60 percent of goods traded between the U.S. and China.
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