China continues to send out positive signals about its willingness to settle its festering trade dispute with the United States launched by President Donald Trump on March 2018.
Chinese officials that will be involved in the upcoming trade talks in late October are expected to be in Washington this week to hold consultations with their U.S. counterpart ahead of the high-level trade talks.
Among these top officials is Liao Min, Vice Minister of the Ministry of Finance, who will lead a vice-ministerial delegation to discuss trade and economic issues. Liao and his team were invited to the talks by the Trump administration, according to CCTV, a state-controlled broadcaster.
Consultations between Liao and a U.S. trade team are expected to begin Thursday.
The U.S. and China have been engaged in a ruinous trade war and have hit each other's goods with punitive tariffs. Tensions escalated in August when both countries announced increased tariffs but have also made small concessions.
The ultimate of the trade war on both countries are still being debated but one U.S. expert predicts China will win this trade war. This prediction was made by David Roche, president and chief strategist of Independent Strategy, on CNBC's "Squawk Box." This 20-year-old firm provides institutional investors with research on worldwide strategy and asset allocation.
Asked which country he thought would win the trade war, Roche quickly replied, "Oh, China wins."
He went on to say Trump's trade war was also "a conflict between a rising global power (China) and a declining global power (the United States)."
"That's what it's all about. It's not just about trade," said Roche.
"It's about technology. It's about the free flow of ideas ... and it's rapidly becoming about the free flow of individuals. It's a really wide conflict and it's simply not going to go away."
Roche predicted the end to Trump's trade war is nowhere in sight. Trump's trade war will also damage, perhaps irreversibly, the trust China has in the U.S. It will also force China to develop its technologies faster than it should have.
"China will never trust the United States again, and it will achieve its technology independence within seven years," said Roche.
