In a joint statement issued in China yesterday, 37 economists – including Joseph Stiglitz(pic), Michael Spence and three other Nobel winners – bemoaned what they said has been a descent of the trade conflict into a binary debate where the only emerging solutions are either wholesale economic reforms by China leading to a converging of economic models or an economically-damaging “decoupling”.
WASHINGTON: A group of prominent economists from the United States and China called for the world’s two largest economies to abandon their trade war and agree to a new path forward that would give both countries more latitude to both pursue their own domestic economic policies and hit back at those that hurt them.
In a joint statement issued in China yesterday, 37 economists – including Joseph Stiglitz, Michael Spence and three other Nobel winners – bemoaned what they said has been a descent of the trade conflict into a binary debate where the only emerging solutions are either wholesale economic reforms by China leading to a converging of economic models or an economically-damaging “decoupling”.
Solutions: Spence(pic) and Stiglitz say it has descended into a binary debate where the only solutions are wholesale economic reforms by China.
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