Millions of Chinese Firms Face Collapse If Banks Don’t Act Fast

It’s going to be interesting if they can’t get this under control fast. The phase 1 trade deal was essentially full capitulation by China, no tariff relief, they really got nothing. With the outbreak it’s unlikely they’ll be able to follow through on all these large scale purchases of US goods so you’ve seen them lower tariffs on hundreds of American products as a way to appease the Trump administration. Phase 1 deal is dead in my opinion, phase 2 will likely be a non starter.

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