China has offered to buy more than $1 trillion in additional imports over six years, shrinking its $323 billion trade surplus with the U.S. to zero by 2024. Global investors are increasingly confident that a China trade deal will happen.
China is basically offering the USA, a China-funded economic stimulus.
U.S. negotiators are doubtful about China’s offer and want more of the commitments front-loaded. China’s commitments are too far into the future. The first year would see roughly an additional $45 billion in purchases by China.
It’s not yet clear how China would achieve the large purchases and changes in global trade. Buying American agricultural products, natural gas, and perhaps oil are only part of the solution.
U.S. and China reportedly are having trouble agreeing on safeguards for U.S. technology and intellectual property. This big offer is shifting the focus to a different time frame.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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