China's economic slowdown amid US strength may cause it to strike a trade deal soon, Nomura says [CNBC]
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Source: CNBC
China's economic slowdown amid US strength may cause it to strike a trade deal soon, Nomura says It appears that the trade war is taking a bigger toll on China's economy than that of the U.S., and that may prompt the Chinese to surrender, according to Nomura. "I suspect the increasingly pronounced slowdown in China's economy, coupled with recent employment data pointing to continued strength in the US economy, are putting heavy pressure on China to settle sooner rather than later," Richard Koo, chief economist of the Nomura Research Institute, said in a note Tuesday. Trade tensions with the U.S., once China's largest trading partner Its economy grew by 6% could fall below 6% in 2020 At the same time, the U.S. economy has seen a rebound in recent months. A gauge for U.S. services activities topped expectations for October, while the labor market remains solid as jobs creation easily beat estimates last month. Better-than-expected economic data have also pushed U.S. stocks to record hig
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