The G-20 meeting in Buenos Aires had one important objective: to reach a trade agreement between the United States and China.
However, the announced agreement is more of a “diplomatic truce” than a real agreement.
The G-20 Summit Trade Deal Mirage
While the elements discussed are constructive, it is unlikely China will stick to its end of the bargain
U.S. President Donald Trump, President Trump's national security adviser John Bolton, President Trump's trade and manufacturing policy adviser Peter Navarro and others, as well as Chinese President Xi Jinping's leadership team attend a working dinner after the G-20 leaders summit in Buenos Aires, Argentina, on Dec. 1, 2018. Kevin Lamarque/Reuters
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Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat” (2015), and “Life in the Financial Markets.”
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