The highly-influential Chinese daily, Global Times, cites some Chinese experts, saying that text of the US-China phase one trade deal is balanced and fair.
Key Headlines:
Any deal include initiatives that, if properly executed, could help address disputes and avoid further confrontation.
Liang Ming, director of the Chinese Academy of International Trade and Economic Cooperation’s foreign trade institute, said: “This should not be too difficult. Prices of these US products are very competitive so we can’t say China has been taken advantage of. Furthermore, the agreement included terms about the US ensuring market supply, which could mean the US will lift bans on-chip exports to China.”
Meanwhile, Wang Wen, executive dean of Chongyang Institute for Financial Studies at Renmin University of China, noted: “The US largely confirmed that there would be equal treatment as China in IPR protection and technology transfer, which could be tacit approval of Huawei going into the US market.”
The positive take from the Chinese experts on phase one trade deal could help reduce the persisting uncertainty over the thorny issues still remaining unaddressed in the agreement. The risk sentiment is seen improving over the last hour, with USD/JPY re-testing the 110 handle amid moderate gains in the S&P 500 futures.
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