Can the US and China make friends?

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Are the US and China getting back together? Goldman is skeptical.

Latest US-China developments: Last Friday, US Treasury Secretary ScottBessent had a “constructive”video call with Vice Premier He Lifeng and President Trump indicated that the meeting with President Xi would go ahead in South Korea later this month. Despite these positive developments, we think risks linger.

In our latest Q&A piece, we explain that China’s leverage over rare earths has looked quite powerful for some time, and China is unlikely to back off from the proposed rare-earth controls.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.