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Stiglitz Says True U.S.-China Trade Accord ‘Almost Impossible’

  • Nobelist: U.S. should recognize China as developing nation
  • Countries may reach deal without resolving underlying issues
Bloomberg business news

Stiglitz Says China Has a 'Good Understanding' of the United States

A meaningful trade agreement between the U.S. and China is unlikely as long as President Donald Trump fails to recognize China’s right to develop its economy, according to Joseph Stiglitz, the Nobel Prize-winning Columbia University economist.

While a face-saving deal could arise that allows Trump to claim a victory for his hawkish approach to shrinking America’s trade deficit, a lasting agreement at this moment appears “almost impossible,” Stiglitz said.