US China Trade Deal Unlikely To Make Progress At G-20 Says Carson Block – Market News Store

US China Trade Deal Unlikely To Make Progress At G-20 Says Carson Block

On Friday, Carson Block said that investors from China and the US shouldn’t be expecting much for trade relations in the G-20 summit which is going to be held next week. Carson Block has lived for almost six years in China and there he gained popularity and recognition where is shorted numerous Chinese stocks which also included Sino Forest.

The founder of Muddy Waters Research, Carson Block said in the popular news TV show that he is not yet sure that there would be any chance of rapprochement. He added that the Chinese media seemed to be digging in and yet not softening their tone. He also said that he thought the Chinese would be preparing for a long going geopolitical battle with West.

It has been almost more than a year, since China and U.S. are engaged in their trade war. Both the countries have slapped tariffs on each other’s goods imported in their country worth billions of dollars. It has tightened the trade conditions of the US and is dampening the economic outlook of United States.

The president of United States, Donald Trump and Xi Jinping, his Chinese counterpart has been scheduled for a meet. It will be held at the G-20 summit, Japan, in which both the leaders would be discussing about their trade relations to reach a peaceful accord.

Block said that there could be no business in China’s mainland finally and this can be assured as the government of China is acting independently and that also for the commercial reasons. He added that the only reason, ZTE and Huawei had built themselves was because they were priorities of government of China. The Chinese government implemented long term strategies by hiring the laid off employees of Nokia and Ericson in the Huawei’s Sweden and Norway site.

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