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Global Geopolitical Series: Don’t hold your breath for Trump-Xi trade agreement at G20

Market is hoping that when the U.S. President Donald Trump meets his Chinese counterpart later this month at the G20 leaders’ meeting in Buenos Aires, Argentina, the two leaders would be able to close their differences over multiple areas such as intellectual properties, and fair trade practices, as well as reforming the World Trade Organization (WTO).

However, we would like to suggest not to hold onto high hopes over the looming meetings at the sidelines of G20. It is more likely than not that the leaders would fail to significantly close their differences to clinch a future and fairer trade agreement. At least last week’s APEC leaders’ meeting suggests so, where the U.S. Vice President Mike Pence was in attendance along with Chinese President Xi Jinping.

For the first in more than 30 years existence, the 21-members strong Asia-Pacific Economic Cooperation (APEC) failed to issue a consensual joint statement and everybody agreed that it was the difference between the two gigantic members; China and the United States.

So, What now -

The two-day meeting of the G20 leaders are set to begin on November 30th, we are not optimistic after seeing the result at the APEC that some miraculous consensus would be reached and we would have a deal of the deal.

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