US, China jockey for global support as trade war shows no sign of abating

The US and China are set to use the latest gathering of the world’s finance chiefs to marshal support for their respective cases in a trade dispute that shows no sign of ending soon. On the other is President Xi Jinping, who has positioned China as a champion of globalization and the existing trading order. “We are concerned about the depreciation and want to make sure that it’s not being used as a competitive devaluation,” he said in Bali. ” ALSO READ: Amid trade war with US, China may soon open its market for Indian oilmeals The Commission President Jean-Claude Juncker said that he hopes “that globalization and interdependent multilateralism remain the direction of the world,” but warned that “the EU is open but it is not naive. He has also reached a deal with Canada and Mexico, which their lawmakers must still approve, on a successor to the North American Free Trade Agreement.

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