A former central bank official in China is optimistic the U.S. and China can reach an agreement by the March deadline that will “pave the way for future talks.”
The South China Morning Post reports Zhu Min, the deputy governor of the People’s Bank of China from 2009 to 2010, expects it would take at least six months to a year before the two countries could resolve their trade conflict. The official said China was willing to make compromises needed to address some U.S. concerns and to work to reduce the trade imbalance.
But he also expressed concern over Washington’s rivalry with Beijing beyond trade, and the unpredictability of the U.S. president. China began buying U.S. ag products last week as part of the ceasefire agreement between the U.S. and China. Agriculture remains hopeful more purchases are planned.