US-China agreed to work towards a ‘phase one’ deal
As per the speculation floating around, there are high chances of ‘phase one’ deal getting signed between the world’s biggest economies, US and China. The news of a deal coming through has infused confidence in the market, boosting trade, investments and stocks across the world. As a consequence of it many central banks including Federal Reserve of US, the European Central Bank and many across Asia have reduced interest rates to infuse growth. Many nations, such as China and India, have also brought down taxes to stimulate their economies. Beijing and Washington have been at loggerheads for nearly two years, over tariff issues and intellectual property rights. The trade war between the two created ripples across the world leading to major dip in stock market and manufacturing sector, stalling growth of various economies. On Wednesday, during a Morgan Stanley Asia Pacific Summit in Singapore, Gokul Laroia, co-chief executive of the group told CNBC, “A deal coupled with policy ...