Thursday, September 17
When US and Chinese negotiators sit down in Stockholm this week, China’s export-heavy economy will be front and centre. Washington wants Beijing to loosen its grip on global manufacturing, but as per AP, experts say that even a breakthrough trade deal won’t be enough to fix China’s long-running economic imbalance.US Treasury Secretary Scott Bessent has flagged two major concerns: China’s reliance on exports and its energy imports from Russia and Iran, which undermine American sanctions. “We could also discuss the elephant in the room, which is this great rebalancing that the Chinese need to do,” Bessent told CNBC. With China accounting for nearly 30% of global manufacturing exports, he argued, “it can’t get any bigger, and it should probably shrink.”What the US wants from
