China resumed purchases of US soybeans this week and pledged to cut auto tariffs. But to clinch a lasting trade deal, it will need to convince the US that it is moving ahead with long-promised structural reforms. There are some signs that a renewed reform push is in the works as officials prepare to celebrate 40 years since the start of Deng Xiaoping’s “reform and opening up” policy. This should be treated with scepticism. While it may reflect a genuine reassessment of industrial policy, it may just be window-dressing to try to avoid further tariffs.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services