US-China phase one trade deal won’t lead to ‘economic nirvana,’ Larry Summers says
The so-called phase one trade deal that the U.S. and China are expected to sign won’t solve all the problems the global economy faces right now, former U.S. Treasury Secretary Larry Summers said Wednesday. U.S. President Donald Trump said both countries were looking for a location to sign the partial deal — which according to Reuters, could take place this month. That development has fueled recent optimism in financial markets.