News analysis

China paid a heavy price for trade deal with US: Chinese experts

US Trade Representative said China has committed to purchasing S$271 billion worth of American goods and services more than it did in 2017 over the next two year PHOTO: AFP
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BEIJING - The phase one pact that China struck with the US was meant to staunch the losses that has followed 20 months of tariff escalations, Chinese experts said.

That the agreement announced on Friday (Dec 13) was more wide-ranging than expected spoke partly of Beijing's domestic priority of ensuring stable and continuous economic growth, they added, after China's GDP growth hit a 30-year low last quarter.

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