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By Dr. Thomas GITZEL, Chief Economist, VP Bank Group
One is not exactly spoiled for the conciliatory words and deeds of the US President. But this time the G20 summit really surprised on the positive side. The meeting between Donald Trump and Xi Jinping gives hope that a solution to the trade conflict will be found after all.
The US president not only announced a restart of the trade talks that stalled on 6 May, but also surprisingly announced that he would relax sanctions against Chinese telecommunications supplier Huawei. The company can once again source components from the USA. This step is quite remarkable, as Trump is distancing himself from the hardliners in the US administration. Some gentlemen in the White House see Huawei as a...
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