DATE IMPORTED:June 29, 2019U.S. President Donald Trump and China’s President Xi Jinping shake hands ahead of their bilateral meeting during the G20 leaders summit in Osaka, Japan, June 29, 2019. REUTERS/Kevin Lamarque
Kevin Lamarque | Reuters
Tensions between the U.S. and China are not escalating but there is still “no clear path” towards a deal between the world’s two largest economies, according to Morgan Stanley.
Developments at the G-20 Summit in Osaka, Japan over the weekend on their own do not erase the uncertainty that is weighing on corporate confidence and the broader global economy, the firm said.
“As things stand, we lack clarity on whether real progress was achieved on the sticking points that caused talks to break down in the first place,” Morgan Stanley chief economist Chetan Ahya said in a note to clients on Sunday.
On Saturday at the G-20 summit, President Donald Trump and Chinese President Xi Jinping agreed not to impose new tariffs on U.S. and Chinese goods. The U.S….