U.S.-China Trade Tensions Are Back: Global Economy Week Ahead – Yahoo Canada Finance

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U.S.-China Trade Tensions Are Back: Global Economy Week Ahead – Yahoo Canada Finance

(Bloomberg) — Carmen Reinhart — the World Bank’s incoming chief economist — just declared that globalization is probably dead, and flaring trade tensions between the world’s two biggest economies is supporting that theory.

At the National People’s Congress, the pinnacle of its political calendar, China on Friday reiterated its commitment to implementing the phase-one trade deal signed with the U.S. The agreement, signed in January, compels it to buy goods in goals that seemed lofty even before the Covid-19 pandemic hit demand and battered supply chains.

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