China Threatens to Pull Money from Silicon Valley: “Trade War Will Become A Tech War”

In the span of a day, China has gone from threatening to crash US markets if President Trump doesn’t agree to a trade deal to helping the US rebut reports that trade talks weren’t going as smoothly as President Trump and the Wall Street Journal had let on. During a press conference on Thursday, Ministry of Commerce Spokesman Gao Feng denied reports that a meeting involving high-level trade officials in Washington had been cancelled (the FT had cited US frustrations with China’s reluctance to cave on demands relating to curbing IP theft and certain structural reforms) – backing up Larry Kudlow, who sparked a brief rally just before the close on Wednesday when he appeared on CNBC to deny these reports.


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