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Bank of Singapore: Market “overestimating” possibility of a US trade war compromise

“It looks like Trump is raising the stakes in order to press China to capitulate and grant concessions without retaliation,” said Richard Jerram, chief economist at Bank of Singapore. “This is a dangerous game for both sides, with debt-related stresses in China making it vulnerable to a hit from exports.” According to Jerram, retaliation from China is to be expected,…

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