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Instead, the trade agreement signed on Wednesday highlights all the problems he wanted to solve. Financial markets often seem much smarter than the miracles they observe: on the same day, Donald Trump`s Chinese and Chinese trade agents signed Donald Trump`s “Phase One” deal with a lot of fanfare in the White House, stock traders around the world are just shrugging their shoulders. Trump`s recovery is nothing more than blatant disregard for multilateral agreements and global institutional frameworks such as the World Trade Organization (WTO). He wants to fire and dictate the trade conditions for which unilateral sanctions against those who disagree have become his weapon of choice. But it would be too easy to explain “mission accomplished.” There is no better way to reformulate Trump`s Phase One agreement than in the words of German economist Gabriel Felbermayr: “This is bilateral nonsense in a multilateral world.” And the head of the European Chambers of Commerce in China, Jorg Wuttke, sadly added that the pact would pave the way for “managed trade” between the world`s largest economies. Please confirm that you are a human being by checking a box. Wait or click here to open the translation in a new window. Translating the text of each application or website into a single click A reason for this lack of enthusiasm could be the growing awareness that the trade agreement is more than a substance. Certainly, Trump has assured that China will buy $100 billion (89.7 billion euros) of additional U.S. products, including a considerable volume of U.S.-made agricultural products. And Chinese President Xi Jinping has promised to do more with US copyright and weaken China`s policy of forced technology transfer.

Results: 580. Exactly: 2. Processing time: 108 ms. But it has eliminated the benefits for all countries that have complied with and complied with WTO regulations. Economists have calculated that the 180 WTO member countries have been able, through the regulatory efforts of the trade organization, to add a total of $855 billion per year to their economies. On average, 4.51% of the growth of these countries came from trade regulated by the organization. In fact, the world in general, but also China and the United States in particular, are far from out of the woods. The US president is certainly not in the mood to let go of his unpredictable behavior, and Chinese leaders always seem infernal to keep all the aces up their sleeves. After all, their priority is to defend China`s political and economic system, as it aspires to dominate the new digital world. In Asia, stock markets lost somewhat, while the German DAX index in Frankfurt rose 0.1% – the relief of the highly anticipated end of the trade war between the United States and China is certainly different. Times are new, the White House is taking more and more rules on world trade.

In the days when the WTO Arbitration Tribunal was the widely accepted place for the settlement of trade disputes. Trump`s hammer approach ruined the house, which, admittedly, was no longer in perfect condition. As if it were an excuse for meagre concessions, Beijing used its latest trade data, according to which Chinese exports to the United States have actually collapsed in recent times due to slowing growth, referring to the sacrifices it makes by assuming less growth and, subsequently, less political stability. Isn`t there a translation, did she notice a mistake or do you just want to congratulate us? Fill out the comment form. The email address is optional and our privacy policy only serves to respond to your request.