(September 2020)
There has been a lot of media coverage about the US’ “decoupling” with China. Most of this has been centered around President Trump’s push to lessen economic ties with Beijing. This has worried some investors as it could disrupt decades-long global supply chains and raise costs for US companies. However, an analysis of underlying economic activity reveals that, if anything, the US and China have grown closer over the last year. This increasing closeness has largely happened on the financial front, as Beijing has been allowing more and more access to US companies. For instance, since the start of 2019, PayPal, JP Morgan, Goldman Sachs, American Express and others have all secured deals that allow them varying forms of greater access to the Chinese market. This has coincided with increasing cross-border capital flows between the two countries.
(Beijing)
FINSUM + Magnifi: The relationship between China and the US seems to be much deeper and have much more momentum than the majority of journalistic headlines let on. This will likely help both countries keep growing.
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