US and China must focus on striking a deal for the sake of both economies

Worsening financial data on both sides of the Pacific should bring both sides together on trade In 2010 almost one in five Chinese people lived in poverty. By 2017 that figure had fallen to a little under one in 30, according to the World Bank. Its an astonishing decline in poverty achieved with a mix of authoritarianism, competitive markets and a huge increase in corporate and state borrowing. Trump has accused Beijing of subsidising its exports and artificially depressing its currency to aid that effort. In addition, the US wants Chinese companies to be banned from demanding technology transfers as the price of entering Chinese markets. It is difficult to make a case for currency depreciation when the Peoples Bank …